Performant Financial Corporation Set to Join Russell 3000® Index
June 22 2023 - 4:05PM
Business Wire
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.
ABOUT PERFORMANT HEALTHCARE SOLUTIONS
Performant provides technology-enabled audit, recovery, and
analytics services in the United States to the healthcare industry.
Performant works with healthcare payers through claims auditing and
eligibility-based (also known as coordination-of-benefits, or COB)
services to identify improper payments. The Company engages clients
in both government and commercial markets. The Company also has a
call center which serves clients with complex consumer engagement
needs. Clients of the Company typically operate in complex and
highly regulated environments and contract for their payment
integrity needs in order to reduce losses on improper healthcare
payments.
To learn more about Performant, please visit
http://www.performanthealth.com
About FTSE Russell:
FTSE Russell is a global index leader that provides innovative
benchmarking, analytics and data solutions for investors worldwide.
FTSE Russell calculates thousands of indexes that measure and
benchmark markets and asset classes in more than 70 countries,
covering 98% of the investable market globally.
FTSE Russell index expertise and products are used extensively
by institutional and retail investors globally. Approximately $20.1
trillion is currently benchmarked to FTSE Russell indexes. For over
30 years, leading asset owners, asset managers, ETF providers and
investment banks have chosen FTSE Russell indexes to benchmark
their investment performance and create ETFs, structured products
and index-based derivatives.
A core set of universal principles guides FTSE Russell index
design and management: a transparent rules-based methodology is
informed by independent committees of leading market participants.
FTSE Russell is focused on applying the highest industry standards
in index design and governance and embraces the IOSCO Principles.
FTSE Russell is also focused on index innovation and customer
partnerships as it seeks to enhance the breadth, depth and reach of
its offering.
FTSE Russell is wholly owned by London Stock Exchange Group.
For more information, visit www.ftserussell.com.
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version on businesswire.com: https://www.businesswire.com/news/home/20230622627935/en/
Richard Zubek, Investor Relations Performant Financial
Corporation (925) 960-4988 investors@performantcorp.com
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