Stockholders' Equity

9 Months Ended

Apr. 30, 2022

Equity [Abstract]

Stockholders' Equity

Stockholders’ Equity

Stock-based Compensation

Total stock-based compensation expense recognized in the three-month periods ended April 30, 2022 and April 30, 2021 for stock-based awards totaled $9,750 and $8,366, respectively. Total stock-based compensation expense recognized in the nine-month periods ended April 30, 2022 and April 30, 2021 for stock-based awards totaled $22,736 and $21,424, respectively.

Share Repurchase Program

On December 21, 2021, the Company’s Board of Directors authorized Company management to utilize up to $250,000 to repurchase shares of the Company’s common stock through December 21, 2024.

Under the share repurchase program, the Company is authorized to repurchase, on a discretionary basis and from time-to-time, outstanding shares of its common stock in the open market, in privately negotiated transactions or by other means. The timing and amount of share repurchases will be determined at the discretion of the Company’s management team based upon the market price of the stock, management's evaluation of general market and economic conditions, cash availability and other factors. The share repurchase program may be suspended, modified or discontinued at any time, and the Company has no obligation to repurchase any amount of its common stock under the program.

Under this share repurchase program, during the three months ended April 30, 2022, the Company purchased 499,106 shares of its common stock, at various times in the open market, at a weighted-average price of $80.12 and held them as treasury shares at an aggregate purchase price of $39,990. For the nine months ended April 30, 2022, the Company purchased 1,090,067 shares of its common stock, at various times in the open market, at a weighted-average price of $90.20 and held them as treasury shares at an aggregate purchase price of $98,321. As of April 30, 2022, the remaining amount of the Company's common stock that may be repurchased under this program is $151,679.