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Stock-Based Compensation (Tables)
9 Months Ended
Sep. 30, 2020
Share-based Payment Arrangement [Abstract]  
Total Stock-Based Compensation Expense
Total stock-based compensation expense in the Company’s unaudited Consolidated Statements of Income related to the Company’s long-term incentive award plans was as follows (in thousands):
Three Months Ended
September 30,
Nine Months Ended
September 30,
2020201920202019
Cost of services-compensation$922 $982 $5,897 $7,825 
Selling, general and administrative2,211 1,952 15,186 10,890 
Total$3,133 $2,934 $21,083 $18,715 
Summary of Stock Option Activity
Presented below is a summary of stock option activity for the nine months ended September 30, 2020 (in thousands, except for weighted average exercise price and weighted average remaining contractual terms):
Number of OptionsWeighted
Average
Exercise
Price
Weighted
Average-
Remaining
Contractual
Terms
Aggregate
Intrinsic
Value
Outstanding balance at December 31, 20192,411 $23.43 
Granted
1,073 27.47 
Exercised
(120)17.88 
Forfeitures
(47)28.06 
Expired
(6)29.24 
Outstanding balance at September 30, 20203,311 $24.88 7.51$9,564 
Expected to vest at September 30, 20201,303 $28.85 8.92$832 
Exercisable at September 30, 20201,579 $20.69 6.04$8,376 
Schedule of Estimated Fair Value of Stock Option Grants HMS estimated the fair value of each stock option grant on the date of grant using a Black-Scholes option pricing model and weighted–average assumptions set forth in the following table:
 Nine Months Ended
September 30,
 20202019
Expected dividend yield%%
Risk-free interest rate1.1 %2.5 %
Expected volatility41.1 %40.9 %
Expected life (years)6.36.4
Summary of Restricted Stock Units Activity Presented below is a summary of restricted stock units activity for the nine months ended September 30, 2020 (in thousands, except for weighted average grant date fair value per unit):
 Number of
Units
Weighted Average
Grant Date Fair
Value per Unit
Outstanding balance at December 31, 20191,239 $21.37 
Granted747 24.22 
Vesting of restricted stock units, net of units withheld for taxes(321)23.47 
Units withheld for taxes(147)23.47 
Forfeitures(63)24.41 
Outstanding balance at September 30, 20201,455 $25.41