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STOCK-BASED COMPENSATION (Tables)
 9 Months Ended
Oct. 31, 2013
STOCK-BASED COMPENSATION [Abstract]  
Allocation of stock-based compensation expense
The following table sets forth reported stock-based compensation expense for the three and nine months ended October 31, 2013 and 2012:

 
 
Three Months Ended
October 31,
  
Nine Months Ended
October 31,
 
 
 
2013
  
2012
  
2013
  
2012
 
 
 
(in thousands)
  
(in thousands)
 
  Cost of maintenance, subscription and other revenue
 
$
58
  
$
48
  
$
161
  
$
155
 
  Cost of professional services
  
124
   
124
   
388
   
375
 
  Sales and marketing
  
236
   
209
   
687
   
646
 
  Research and development
  
160
   
166
   
512
   
516
 
  General and administrative
  
642
   
592
   
1,966
   
1,914
 
Total stock-based compensation expense
 
$
1,220
  
$
1,139
  
$
3,714
  
$
3,606
 
Weighted average assumptions used to value SARs
The weighted average assumptions used to value SARs granted in the nine months ended October 31, 2013 and 2012 are shown in the following table:

 
 
Nine Months Ended
October 31,
 
 
 
2013
  
2012
 
Expected life in years (1)
  
4.57
   
4.61
 
Risk free interest rate (2)
  
1.00
%
  
0.69
%
Volatility (3)
  
53
%
  
61
%
Dividend rate (4)
  
2.42
%
  
2.25
%
_____________________________________
(1)
The expected life of SARs granted under the stock-based compensation plans is based on historical vested stock option and SAR exercise and post-vest forfeiture patterns and includes an estimate of the expected term for stock options and SARs that were fully vested and outstanding.
(2)
The risk-free interest rate is based on the U.S. Treasury yield for a term consistent with the expected life of SARs in effect at the time of grant.
(3)
The Company estimates the volatility of its common stock at the date of grant based on the historical volatility of the Company’s common stock for a period equivalent to the expected life of the SARs, which it believes is representative of the expected volatility over the expected life of the SARs.
(4)
The Company expects to continue paying quarterly dividends at the same rate as the three months ended October 31, 2013.
Activity for outstanding stock options and SARs
The following table summarizes the activity for outstanding stock options and SARs for the nine months ended October 31, 2013:
 
 
 
 
Stock Options/
SARs
(in thousands)
  
Weighted
Average
Exercise
Price per
Share
  
Weighted Average
RemainingContractualTerm (years)
  
Aggregate
Intrinsic Value
(in thousands)
 
Outstanding at January 31, 2013  
  
2,920
  
$
11.11
  
  
 
Granted  
  
598
   
11.72
  
  
 
Exercised  
  
(224
)
  
8.52
  
  
 
Expired  
  
(229
)
  
15.17
  
  
 
Forfeited  
  
(39
)
  
10.63
  
  
 
Outstanding at October 31, 2013  
  
3,026
  
$
11.12
   
5.1
  
$
11,017
 
  Vested and expected to vest at October 31, 2013 (1)
  
2,986
  
$
11.11
   
5.1
  
$
10,893
 
  Vested and exercisable at October 31, 2013
  
1,565
  
$
10.76
   
3.6
  
$
6,272
 
___________________________________

(1)
The expected-to-vest SARs are the result of applying the pre-vesting forfeiture rate assumptions to total outstanding SARs.
Summary of activity for RSUs
The following table summarizes the activity for RSUs for the nine months ended October 31, 2013:
 
 
RSUs (in thousands)
  
Weighted
Average
Grant Date
Fair Value
 
Restricted stock at January 31, 2013  
  
385
  
$
10.49
 
Granted  
  
230
   
11.19
 
Vested (1)  
  
(164
)
  
10.05
 
Forfeited  
  
(17
)
  
11.00
 
Restricted stock at October 31, 2013  
  
434
  
$
11.02
 
____________________________________

(1)
The number of RSUs vested includes shares withheld on behalf of employees to satisfy statutory tax withholding requirements.