STOCKHOLDERS' EQUITY

9 Months Ended

Dec. 31, 2018

11.	STOCKHOLDERS’ EQUITY

Share Repurchase Plan

On April 26, 2018, our board of directors authorized the repurchase up to 500,000 shares of our outstanding common stock over a twelve-month period beginning on May 28, 2018. The plan authorized purchases to be made from time to time in the open market, or in privately negotiated transactions, subject to availability. Any repurchased shares will have the status of treasury shares and may be used, when needed, for general corporate purposes.

During the nine months ended December 31, 2018, we purchased 156,087 shares of our outstanding common stock at an average cost of $77.04 per share for a total purchase price of $12.0 million under the share repurchase plan; we also purchased 40,092 shares of common stock at an average cost of $96.23 for a total purchase price of $3.9 million to satisfy tax withholding obligations relating to the vesting of employees’ restricted stock.

During the nine months ended December 31, 2017, we purchased 125,605 shares of our outstanding common stock at an average cost of $77.88 per share for a total purchase price of $9.8 million under the share repurchase plan. We also purchased 57,725 shares of common stock at a value of $4.4 million to satisfy tax withholding obligations relating to the vesting of employees’ restricted stock.