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Share-based awards (Tables)
9 Months Ended
Sep. 30, 2024
Share-Based Payment Arrangement [Abstract]  
Summary of Stock Option Activity
The following table summarizes option activity for the nine months ended September 30, 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(275,805)$117.37 
Forfeited(17,341)$239.54 
Outstanding at September 30, 2024678,040 $169.30 4.29
Exercisable at September 30, 2024461,732 $133.30 3.48
Schedule of Weighted Average Fair Values and Assumptions Used The weighted average grant date fair values and assumptions used were as follows:
Nine Months Ended
September 30,
2024
September 30,
2023
Weighted average grant date fair value$115.76 $85.12 
Assumptions:  
Expected volatility36 %33 %
Dividend yield— %— %
Risk-free interest rate4.20 %4.18 %
Expected life4.3 years5 years
Summary of RSU and PSU Activity The following table summarizes RSU and PSU activity for the nine months ended September 30, 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 $325.51 245,750 $318.49 
Shares vested(9,975)$177.38 (115,570)$221.85 
Forfeited(94,178)$262.66 (62,360)$233.79 
Outstanding at September 30, 202449,729 $264.25 688,831 $251.87 
Schedule of Non-Cash Stock Compensation Expense
Stock compensation expense for the three and nine months ended September 30, 2024 and September 30, 2023 has been allocated as follows:
Three Months EndedNine Months Ended
September 30,
2024
September 30,
2023
September 30,
2024
September 30,
2023
(in thousands)
Direct costs$7,745 $6,637 $21,765 $18,725 
Selling, general and administrative5,293 9,828 19,418 29,097 
Total$13,038 $16,465 $41,183 $47,822