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Share-based awards (Tables)
3 Months Ended
Mar. 31, 2024
Share-Based Payment Arrangement [Abstract]  
Summary of stock option activity
The following table summarizes option activity for the three months ended March 31, 2024:
 Options
Outstanding
Number of Shares 
Weighted
Average
Exercise
Price
Weighted
Average
Remaining
Contractual
Life
Outstanding at December 31, 2023902,806 $142.96 4.42
Granted68,380 $325.51 
Exercised(156,527)$104.48 
Outstanding at March 31, 2024814,659 $165.67 4.73
Exercisable at March 31, 2024575,646 $132.89 4.00
Schedule of weighted average fair values and assumptions used The weighted average grant date fair values and assumptions used were as follows:
Three Months Ended
March 31, 2024March 31, 2023
Weighted average grant date fair value$115.76 $85.75 
Assumptions:  
Expected volatility36 %33 %
Dividend yield— %— %
Risk-free interest rate4.20 %4.22 %
Expected life4.3 years5 years
Summary of RSU and PSU activity The following table summarizes RSU and PSU activity for the three months ended March 31, 2024:
PSU
Outstanding
Number of
Shares
PSU
Weighted
Average Grant Date
Fair Value
RSU
Outstanding
Number of
Shares
RSU
Weighted
Average Grant Date
Fair Value
Outstanding at December 31, 2023105,256 $226.29 621,011 $218.27 
Granted48,626 $325.51 42,826 $325.51 
Shares vested(9,544)$174.96 (22,648)$214.55 
Forfeited(50,194)$231.36 (22,751)$215.86 
Outstanding at March 31, 202494,144 $280.04 618,438 $225.92 
Schedule of non-cash stock compensation expense
Stock compensation expense for the three months ended March 31, 2024 and March 31, 2023 has been allocated as follows:
Three Months Ended
March 31, 2024March 31, 2023
(in thousands)
Direct costs$6,721 $5,668 
Selling, general and administrative6,460 9,091 
Total$13,181 $14,759