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Common Stock Repurchases
6 Months Ended
Jan. 31, 2014
Common Stock Repurchases

10. Common Stock Repurchases

On December 8, 2011, we announced that our board of directors had authorized the repurchase of up to $30.0 million of our common stock. The repurchase program will be funded using our available cash. During the three and six months ended January 31, 2014, we repurchased and retired 35,550 shares and 82,188 shares of common stock, respectively, under this repurchase program for $3.2 million and $7.0 million, respectively, at an average purchase price of $91.20 per share and $84.83 per share, respectively. During the three and six months ended January 31, 2013, we repurchased and retired 29,003 shares and 85,327 shares of common stock, respectively, under this repurchase program for $2.1 million and $6.0 million, respectively, at an average purchase price of $71.91 and $70.56 per share, respectively. As of January 31, 2014, we have cumulatively repurchased and retired 331,595 shares of common stock under this repurchase program for $23.4 million at an average purchase price of $70.47 per share.