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SHAREHOLDERS' EQUITY (Tables) | 12 Months Ended
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Aug. 31, 2023
Equity [Abstract] |
Schedule of Shares Outstanding | Shares Outstanding Shares of Company common stock outstanding for the years ended August 31, 2023, 2022, and 2021 were as follows:
(in thousands) |  |  |  |  |  | Years ended August 31,
|  |  |  |  |  | 2023 |  | 2022 |  | 2021
Common stock outstanding, beginning of period |  |  |  |  |  | 20,260 |  |  | 20,142 |  |  | 19,923 |
Common stock repurchased during the period * |  |  |  |  |  | (492) |  |  | — |  |  | — |
Common stock issued during the period |  |  |  |  |  | 170 |  |  | 119 |  |  | 218 |
Common stock outstanding, end of period |  |  |  |  |  | 19,938 |  |  | 20,260 |  |  | 20,142 |
*Common stock repurchased per the ASR Agreement, as discussed in further detail, below.
Schedule of Dividends Payable | Dividends The Company’s Board of Directors declared cash dividends during the fiscal years 2023 and 2022. The details of dividends paid are in the following tables:
(in thousands, except dividend per share) |  | For the year ended August 31, 2023
Record Date |  | Distribution Date |  | Number of Shares Outstanding on Record Date |  | Dividend per Share |  | Total Amount
10/31/2022 |  | 11/07/2022 |  | 20,299 |  |  | $ | 0.06 |  |  | $ | 1,218 |
1/30/2023 |  | 2/06/2023 |  | 19,924 |  |  | $ | 0.06 |  |  | 1,195 |
4/24/2023 |  | 5/01/2023 |  | 19,999 |  |  | $ | 0.06 |  |  | 1,200 |
7/31/2023 |  | 8/07/2023 |  | 19,931 |  |  | $ | 0.06 |  |  | 1,196 |
Total |  |  |  |  |  |  |  | $ | 4,809 |
(in thousands, except dividend per share) |  | For the year ended August 31, 2022
Record Date |  | Distribution Date |  | Number of Shares Outstanding on Record Date |  | Dividend per Share |  | Total Amount
10/25/2021 |  | 11/01/2021 |  | 20,148 |  |  | $ | 0.06 |  |  | $ | 1,209 |
1/31/2022 |  | 2/07/2022 |  | 20,178 |  |  | $ | 0.06 |  |  | 1,211 |
4/25/2022 |  | 5/02/2022 |  | 20,207 |  |  | $ | 0.06 |  |  | 1,212 |
7/25/2022 |  | 8/01/2022 |  | 20,239 |  |  | $ | 0.06 |  |  | 1,214 |
Total |  |  |  |  |  |  |  | $ | 4,846 |
Share-based Payment Arrangement, Option, Activity | The following tables summarize information about stock options:
(in thousands, except per share and weighted-average amounts) |  |  |  |  |  |
Activity for the year ended August 31, 2023 |  | Number of Options |  | Weighted-Average Exercise Price Per Share |  | Weighted-Average Remaining Contractual Life
Outstanding, August 31, 2022 |  | 1,245 |  |  | $ | 28.61 |  |  | 6.14 years
Granted |  | 465 |  |  | 43.78 |  |  |
Exercised |  | (170) |  |  | 12.59 |  |  |
Canceled/Forfeited |  | (62) |  |  | 43.14 |  |  |
Outstanding, August 31, 2023 |  | 1,478 |  |  | $ | 34.62 |  |  | 6.62 years
Vested and Exercisable, August 31, 2023 |  | 696 |  |  | $ | 24.26 |  |  | 4.54 years
Vested and Expected to Vest, August 31, 2023 |  | 1,471 |  |  | $ | 34.56 |  |  | 6.61 years
(in thousands, except per share and weighted-average amounts) |  |  |  |  |  |
Activity for the year ended August 31, 2022 |  | Number of Options |  | Weighted-Average Exercise Price Per Share |  | Weighted-Average Remaining Contractual Life
Outstanding, August 31, 2021 |  | 1,184 |  |  | $ | 25.63 |  |  | 6.47 years
Granted |  | 255 |  |  | 42.13 |  |  |
Exercised |  | (104) |  |  | 16.15 |  |  |
Canceled/Forfeited |  | (90) |  |  | 42.30 |  |  |
Outstanding, August 31, 2022 |  | 1,245 |  |  | $ | 28.61 |  |  | 6.14 years
Vested and Exercisable, August 31, 2022 |  | 711 |  |  | $ | 17.65 |  |  | 4.47 years
Vested and Expected to Vest, August 31, 2022 |  | 1,236 |  |  | $ | 28.51 |  |  | 6.12 years
(in thousands, except per share and weighted-average amounts) |  |  |  |  |  |
Activity for the year ended August 31, 2021 |  | Number of Options |  | Weighted-Average Exercise Price Per Share |  | Weighted-Average Remaining Contractual Life
Outstanding, August 31, 2020 |  | 1,224 |  |  | $ | 17.76 |  |  | 6.79 years
Granted |  | 226 |  |  | 57.60 |  |  |
Exercised |  | (204) |  |  | 12.53 |  |  |
Canceled/Forfeited |  | (62) |  |  | 29.83 |  |  |
Outstanding, August 31, 2021 |  | 1,184 |  |  | $ | 25.63 |  |  | 6.47 years
Vested and Exercisable, August 31, 2021 |  | 619 |  |  | $ | 13.36 |  |  | 4.95 years
Vested and Expected to Vest, August 31, 2021 |  | 1,173 |  |  | $ | 25.69 |  |  | 6.47 years
Schedule of Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Grant Date Intrinsic Value | The following table summarizes the Intrinsic Value of options outstanding and options exercisable:
(in thousands) |  | Intrinsic Value of Options Outstanding |  | Intrinsic Value of Options Exercisable |  | Intrinsic Value of Options Exercised
As of August 31, 2023 |  | $ | 25,705 |  |  | $ | 19,373 |  |  | $ | 11,554 |
As of August 31, 2022 |  | $ | 39,208 |  |  | $ | 30,187 |  |  | $ | 3,572 |
As of August 31, 2021 |  | $ | 17,875 |  |  | $ | 15,742 |  |  | $ | 5,135 |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Weighted Average Grant Date Fair Value | The following table summarizes the fair value of the options, including both ISOs and NQSOs, granted during the years ended August 31, 2023, 2022, and 2021:
(in thousands, except weighted-average amounts) |  | 2023 |  | 2022 |  | 2021
Estimated fair value of awards granted |  | $ | 10,067 |  |  | $ | 4,597 |  |  | $ | 5,092 |
Unvested Forfeiture Rate |  | 0.22 | % |  | 1.04 | % |  | 0.00 | %
Weighted-average grant price |  | $ | 43.78 |  |  | $ | 42.13 |  |  | $ | 57.60 |
Weighted-average market price |  | $ | 43.78 |  |  | $ | 42.13 |  |  | $ | 57.60 |
Weighted-average volatility |  | 46.14 | % |  | 42.80 | % |  | 40.49 | %
Weighted-average risk-free rate |  | 4.29 | % |  | 1.74 | % |  | 0.64 | %
Weighted-average dividend yield |  | 0.55 | % |  | 0.58 | % |  | 0.42 | %
Weighted-average expected life |  | 6.55 years |  | 6.59 years |  | 6.63 years
Share-based Payment Arrangement, Option, Exercise Price Range | The exercise prices for the options outstanding at August 31, 2023, ranged from $6.85 to $66.14, and the information relating to these options are as follows: (in thousands except prices and weighted-average amounts)
Exercise Price |  | Awards Outstanding |  | Awards Exercisable
Low |  | High |  | Quantity |  | Weighted -Average Remaining Contractual Life |  | Weighted-Average Exercise Price |  | Quantity |  | Weighted-Average Remaining Contractual Life |  | Weighted-Average Exercise Price
$ | 6.85 |  |  | $ | 9.77 |  |  | 203 |  |  | 1.96 years |  | $ | 8.69 |  |  | 203 |  |  | 1.96 years |  | $ | 8.69 |
$ | 9.78 |  |  | $ | 18.76 |  |  | 148 |  |  | 3.49 years |  | $ | 10.11 |  |  | 148 |  |  | 3.49 years |  | $ | 10.11 |
$ | 18.77 |  |  | $ | 33.40 |  |  | 205 |  |  | 5.64 years |  | $ | 25.30 |  |  | 141 |  |  | 5.54 years |  | $ | 24.51 |
$ | 33.41 |  |  | $ | 47.63 |  |  | 649 |  |  | 8.70 years |  | $ | 42.13 |  |  | 81 |  |  | 7.03 years |  | $ | 37.96 |
$ | 47.64 |  |  | $ | 66.14 |  |  | 273 |  |  | 7.56 years |  | $ | 56.33 |  |  | 123 |  |  | 7.32 years |  | $ | 57.87 |
|  |  |  | 1,478 |  |  | 6.62 years |  | $ | 34.62 |  |  | 696 |  |  | 4.54 years |  | $ | 24.26 |

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