Performant Financial Corporation (NASDAQ:PFMT) (Performant Healthcare Solutions, the Company), a leading provider of technology-enabled payment integrity, eligibility, and related analytics services, announced today that the Company is set to join the broad-market Russell 3000® Index at the conclusion of the 2023 Russell indexes annual reconstitution, effective after the US market opens on June 26, according to a preliminary list of additions posted May 19.
Annual Russell indexes reconstitution captures the 4,000 largest US stocks as of April 28, ranking them by total market capitalization, including both the Russell 3000® and Russell Microcap® Indexes.
Membership in the US all-cap Russell 3000® Index, which remains in place for one year, means automatic inclusion in the large-cap Russell 1000® Index or small-cap Russell 2000® Index as well as the appropriate growth and value style indexes. FTSE Russell determines membership for its Russell indexes primarily by objective, market-capitalization rankings and style attributes.
“Our addition to the Russell 3000® Index is a testament to the hard work of our entire team following our decision to focus on and become a leader within the healthcare payment integrity space,” said Simeon Kohl, CEO of Performant Healthcare Solutions. “We believe our inclusion in the Russell 3000® Index will further strengthen our existing investor base, while increasing our overall visibility among a wider array of potential investors.”
Russell indexes are widely used by investment managers and institutional investors for index funds and as benchmarks for active investment strategies. Approximately $12.1 trillion in assets are benchmarked against Russell’s US indexes. Russell indexes are part of FTSE Russell, a leading global index provider.
For more information on the Russell 3000® Index and the Russell indexes reconstitution, go to the “Russell Reconstitution” section on the FTSE Russell website.
