STOCK-BASED COMPENSATION (Tables)

3 Months Ended

Apr. 30, 2017

STOCK-BASED COMPENSATION

Schedule of activity under the Company's stock option plans

Summaries of activity under the Company’s stock option plans for the three months ended April 30, 2017 and 2016, along with corresponding weighted average per share amounts, are presented below (shares in thousands):

	Shares		Exercise Price		Remaining Term (years)	Fair Value
Outstanding, February 1, 2017	707		$	39.04	7.82	$	10.22
Granted	105		$	64.25
Exercised	(27	)	$	31.53
Outstanding, April 30, 2017	785		$	42.68	7.94	$	11.29
Exercisable, April 30, 2017	485		$	28.17	6.83	$	7.51

	Shares		Exercise Price		Remaining Term (years)	Fair Value
Outstanding, February 1, 2016	1,064		$	26.38	6.36	$	6.91
Granted	75		$	33.85
Exercised	(22	)	$	18.80
Outstanding, April 30, 2016	1,117		$	27.03	6.92	$	7.08
Exercisable, April 30, 2016	842		$	24.36	6.43	$	6.41

Schedule of changes in the 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 three months ended April 30, 2017 and 2016, and the weighted average fair value per share for each number, are presented below (shares in thousands):

	Shares		Fair Value
Non-vested, February 1, 2017	270		$	14.93
Granted	105		$	16.37
Vested	(75	)	$	9.01
Non-vested, April 30, 2017	300		$	17.38

	Shares		Fair Value
Non-vested, February 1, 2016	300		$	8.97
Granted	75		$	9.01
Vested	(100	)	$	8.55
Non-vested, April 30, 2016	275		$	9.13

Summary of assumptions used to estimate fair value of stock options granted

	Three Months Ended April 30,
	2017		2016
Dividend yield	1.09	%	2.07	%
Expected volatility	35.96	%	34.08	%
Risk-free interest rate	1.59	%	1.02	%
Expected life (in years)	3.35		5.50