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Common Stock Repurchases
6 Months Ended
Jan. 31, 2016
Common Stock Repurchases

9. Common Stock Repurchases

On June 2, 2014, our board of directors authorized the repurchase of up to $30.0 million of our common stock. Repurchases under this program will be funded by our available cash. The repurchase program does not have a fixed expiration date. During the three and six months ended January 31, 2016, we repurchased and retired 44,357 and 87,980 shares of common stock under this repurchase program for $3.6 million and $7.2 million, at an average purchase price of $81.71 and $82.16 per share, respectively. The cumulative shares that were repurchased and retired under this program were 283,274 shares of common stock for $22.5 million at an average purchase price of $79.50 per share.