Teradata (NYSE:TDC) Downgraded to Market Perform at Cowen

Cowen cut shares of Teradata (NYSE:TDC) from an outperform rating to a market perform rating in a report published on Friday morning, Benzinga’s Daily Ratings Newsletter reports. They currently have $29.00 price objective on the technology company’s stock, down from their previous price objective of $53.00.

Other research analysts have also issued research reports about the stock. Bank of America lowered shares of Teradata from a buy rating to a neutral rating and reduced their price objective for the stock from $48.00 to $33.00 in a research note on Friday. Stifel Nicolaus lowered shares of Teradata from a buy rating to a hold rating and reduced their price objective for the stock from $60.00 to $25.00 in a research note on Friday. Morgan Stanley boosted their price objective on shares of Teradata from $57.00 to $58.00 and gave the stock an overweight rating in a research note on Friday, August 2nd. Barclays set a $27.00 price objective on shares of Teradata and gave the stock a sell rating in a research note on Friday, November 1st. Finally, Deutsche Bank reduced their price objective on shares of Teradata from $42.00 to $32.00 and set a hold rating for the company in a research note on Tuesday, October 22nd. Five research analysts have rated the stock with a sell rating, six have issued a hold rating and one has issued a buy rating to the company’s stock. The stock currently has an average rating of Hold and an average target price of $32.64.

Shares of NYSE:TDC traded down $0.58 during trading hours on Friday, hitting $25.86. The company’s stock had a trading volume of 2,678,047 shares, compared to its average volume of 1,195,928. The company has a debt-to-equity ratio of 1.73, a current ratio of 1.27 and a quick ratio of 1.22. The company has a market capitalization of $2.90 billion, a price-to-earnings ratio of 29.39, a P/E/G ratio of 1.38 and a beta of 1.19. The firm’s fifty day moving average price is $29.57 and its 200 day moving average price is $33.91. Teradata has a 52 week low of $23.71 and a 52 week high of $49.42.

Teradata (NYSE:TDC) last posted its quarterly earnings data on Thursday, November 7th. The technology company reported $0.32 EPS for the quarter, topping the consensus estimate of $0.26 by $0.06. The firm had revenue of $459.00 million during the quarter, compared to analyst estimates of $485.62 million. Teradata had a net margin of 0.70% and a return on equity of 23.17%. Teradata’s revenue was down 12.7% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.36 EPS. On average, equities research analysts predict that Teradata will post 0.94 earnings per share for the current fiscal year.

Teradata announced that its board has authorized a stock repurchase program on Thursday, August 1st that authorizes the company to buyback $500.00 million in outstanding shares. This buyback authorization authorizes the technology company to buy up to 11.7% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s management believes its shares are undervalued.

Large investors have recently added to or reduced their stakes in the business. Marshall Wace LLP purchased a new stake in Teradata during the 2nd quarter worth approximately $1,776,000. D. E. Shaw & Co. Inc. grew its position in Teradata by 45.8% during the 2nd quarter. D. E. Shaw & Co. Inc. now owns 509,697 shares of the technology company’s stock worth $18,272,000 after purchasing an additional 160,107 shares during the last quarter. JPMorgan Chase & Co. grew its position in Teradata by 3.7% during the 2nd quarter. JPMorgan Chase & Co. now owns 212,622 shares of the technology company’s stock worth $7,550,000 after purchasing an additional 7,651 shares during the last quarter. Wedge Capital Management L L P NC grew its position in Teradata by 15.5% during the 2nd quarter. Wedge Capital Management L L P NC now owns 12,213 shares of the technology company’s stock worth $438,000 after purchasing an additional 1,639 shares during the last quarter. Finally, Commerce Bank grew its position in Teradata by 158.2% during the 2nd quarter. Commerce Bank now owns 15,463 shares of the technology company’s stock worth $554,000 after purchasing an additional 9,475 shares during the last quarter. 99.21% of the stock is currently owned by institutional investors.

About Teradata

Teradata Corporation provides hybrid cloud analytics software. Its solutions and services comprise software, hardware, and related business consulting and support services to deliver analytics in company's analytical ecosystem. It operates through three segments: North America and Latin America region; Europe, Middle East and Africa region; and Asia Pacific and Japan region.

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