Stockholders' Equity

6 Months Ended

Jan. 31, 2024

Equity [Abstract]

Stockholders' Equity

Stockholders’ Equity

Stock-based Compensation

Total stock-based compensation expense recognized in the three-month periods ended January 31, 2024 and January 31, 2023 for stock-based awards totaled $9,246 and $8,543, respectively. Total stock-based compensation expense recognized in the six-month periods ended January 31, 2024 and January 31, 2023 for stock-based awards totaled $19,698 and $16,935, respectively.

Share Repurchase Program

As discussed in Note 17 to the Company’s Consolidated Financial Statements included in the Fiscal 2023 Form 10-K, on December 21, 2021, the Company’s Board of Directors authorized Company management to utilize up to $250,000 to purchase shares of the Company’s common stock through December 21, 2024. On June 24, 2022, the Board authorized Company management to utilize up to an additional $448,321 to repurchase shares of the Company’s common stock through July 31, 2025.

During the three months ended January 31, 2024, the Company did not purchase any shares of its common stock. During the six months ended January 31, 2024, the Company purchased 327,876 shares of its common stock, at various times in the open market, at a weighted-average price of $91.61 and held them as treasury shares at an aggregate purchase price of $30,037, all from the December 21, 2021 authorization. Since the inception of the initial December 21, 2021 authorization, the Company has purchased 2,821,651 shares of its common stock, at various times in the open market, at a weighted-average price of $84.05 and held them as treasury shares at an aggregate purchase price of $237,151.

As of January 31, 2024, the remaining amount of the Company's common stock that may be repurchased under the December 21, 2021 $250,000 authorization expiring on December 21, 2024 is $12,849. As of January 31, 2024, the remaining amount of the Company’s common stock that may be repurchased under the June 24, 2022 authorization expiring on July 31, 2025 is $448,321. As of January 31, 2024, the total remaining amount of the Company’s common stock that may be repurchased under these two authorizations is $461,170.