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Stock Based Compensation
 9 Months Ended
Sep. 30, 2018
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]  
Stock Based Compensation
Stock-Based Compensation
The following costs related to the Company’s stock-based compensation plans are included in the unaudited consolidated statements of income:
 
Three months ended September 30,
 
Nine months ended September 30,
 
2018
 
2017
 
2018
 
2017
Cost of revenues
$
1,116

 
$
1,109

 
$
3,579

 
$
3,448

General and administrative expenses
2,187

 
2,601

 
7,536

 
7,541

Selling and marketing expenses
2,041

 
1,998

 
6,196

 
5,782

Total
$
5,344

 
$
5,708

 
$
17,311

 
$
16,771


As of September 30, 2018, the Company had 3,210,120 shares available for grant under the 2018 Omnibus Incentive Plan, which was adopted by the Company's stockholders in September 2018, at which time new awards under the Company's 2015 Amendment and Restatement of the 2006 Omnibus Award Plan were not permitted to be made.
Stock Options
Stock option activity under the Company’s stock-based compensation plans is shown below:

Number of
Options
 
Weighted Avg
Exercise
Price
 
Aggregate
Intrinsic
Value
 
Weighted Avg
Remaining
Contractual
Life (Years)
Outstanding at December 31, 2017
259,563

 
$
18.03

 
$
10,985

 
2.76
Granted
—

 
—

 
 
 
 
Exercised
(60,435
)
 
17.93

 
2,640

 
 
Forfeited
—

 
—

 
 
 
 
Outstanding at September 30, 2018
199,128

 
$
18.06

 
$
9,586

 
2.09
Vested and exercisable at September 30, 2018
199,128

 
$
18.06

 
$
9,586

 
2.09

The unrecognized compensation cost for unvested options as of September 30, 2018 is Nil.
Restricted Stock and Restricted Stock Units
Restricted stock and restricted stock unit activity under the Company’s stock-based compensation plans is shown below:
 
Restricted Stock
 
Restricted Stock Units
 
Number
 
Weighted Average
Fair Value
 
Number
 
Weighted Average
Fair Value
Outstanding at December 31, 2017*
182,267

 
$
42.64

 
1,046,999

 
$
42.26

Granted
—

 
—

 
429,132

 
60.72

Vested
(41,640
)
 
37.89

 
(397,112
)
 
39.23

Forfeited
(14,620
)
 
47.91

 
(80,228
)
 
51.08

Outstanding at September 30, 2018*
126,007

 
$
43.60

 
998,791

 
$
50.69

* As of September 30, 2018 and December 31, 2017 restricted stock units vested for which the underlying common stock is yet to be issued are 155,753 and 146,112, respectively.
As of September 30, 2018, unrecognized compensation cost of $41,224 is expected to be expensed over a weighted average period of 2.67 years.
Performance Based Stock Awards
Performance based restricted stock unit (the “PRSUs”) activity under the Company’s stock-based compensation plans is shown below:
 
Revenue Based PRSUs
 
Market Condition Based PRSUs
 
Number
 
Weighted Average
Fair Value
 
Number
 
Weighted Average
Fair Value
Outstanding at December 31, 2017
113,190

 
$
48.13

 
113,174

 
$
60.80

Granted
55,268

 
60.58

 
55,262

 
70.97

Vested
—

 
—

 
—

 
—

Forfeited
(21,179
)
 
51.51

 
(21,176
)
 
63.78

Outstanding at September 30, 2018
147,279

 
$
52.32

 
147,260

 
$
64.19


As of September 30, 2018, unrecognized compensation cost of $9,328 is expected to be expensed over a weighted average period of 1.91 years.