STOCK-BASED COMPENSATION (Tables)

12 Months Ended

Jan. 31, 2016

STOCK-BASED COMPENSATION

Summary of Activity under Option and Stock Plans

Summaries of activity under the Company’s stock option plans for the years ended January 31, 2017, 2016 and 2015, along with the corresponding weighted average per share amounts, are presented below (shares in thousands):

	Shares		Weighted Average Exercise Price		Weighted Average Remaining Term (years)	Weighted Average Fair Value
Outstanding, January 31, 2014	916		$	17.36	6.04	$	5.58
Granted	306		$	21.09
Exercised	(346	)	$	15.61
Outstanding, January 31, 2015	876		$	22.34	7.08	$	6.01
Granted	300		$	34.70
Exercised	(106	)	$	17.10
Forfeited	(6	)	$	17.33
Outstanding, January 31, 2016	1,064		$	26.38	6.36	$	6.91
Granted	270		$	57.88
Exercised	(622	)	$	25.57
Forfeited	(5	)	$	36.73
Outstanding, January 31, 2017	707		$	39.04	7.82	$	10.22
Exercisable, January 31, 2017	437		$	27.40	6.68	$	7.31

Summary of Change in Number of Non-Vested Options to Purchase Shares of Common Stock

The changes in the number of non-vested options to purchase shares of common stock for the years ended January 31, 2017, 2016 and 2015, and the weighted average fair value per share for each number, are presented below (shares in thousands):

	Shares		Weighted Average Fair Value
Non-vested, January 31, 2014	303		$	4.40
Granted	306		$	7.14
Vested	(303	)	$	4.40
Non-vested, January 31, 2015	306		$	7.14
Granted	300		$	8.97
Vested	(306	)	$	7.14
Non-vested, January 31, 2016	300		$	8.97
Granted	270		$	14.93
Vested	(300	)	$	8.97
Non-vested, January 31, 2017	270		$	14.93

Summary of Assumptions Used to Estimate Fair Value of Stock Options Granted

	2017		2016		2015
Dividend yield	1.4	%	2.0	%	3.5	%
Expected volatility	34.6	%	34.8	%	33.7	%
Risk-free interest rate	1.7	%	1.3	%	1.3	%
Expected life (in years)	4.2		4.9		4.9