Verint Systems Inc. has been officially added to the list of companies on the broad-market Russell 3000 Index, the Melville software maker said in a Monday news release.
The addition of Verint and of another Long Island company, Aeroflex Holding Corp. of Plainview, had been expected after an announcement last month by Russell Investments, of Seattle. Tuesday's listing of the newly reconstituted 3000 index shows Aeroflex, too, was officially added.
The addition of Verint and of Aeroflex make at least four companies in the past year that have been added to the Russell 3000. Liberty Properties, of Great Neck, and Lifetime Brands Inc., of Garden City, were added in June 2010.
“The Russell Indexes have a history as respected tools used by investors to track the market and its various movements and trends," Doug Robinson, Verint’s chief financial officer, said in the Monday news release.
"We are very pleased to be included in the Russell 3000 this year, as it raises our visibility within the investment community and is reflective of our continued growth."
The index measures the performance of the largest 3,000 companies in the United States. The index website says it "is constructed to provide a comprehensive, unbiased, and stable barometer of the broad market and is completely reconstituted annually to ensure new and growing equities are reflected."
The Russell Index says it provides a framework for worldwide financial markets by ensuring that stocks are "moved into the right 'buckets' on a global scale, ensuring a true reflection of the small-cap, mid-cap, large-cap, value, growth, etc. segments of every market internationally.