Bank of America Cuts Teradata (TDC) Price Target to $45.00
Teradata (NYSE:TDC) had its price target decreased by Bank of America from $48.00 to $45.00 in a research note released on Friday morning. Bank of America currently has a buy rating on the technology company’s stock.
A number of other research firms also recently issued reports on TDC. Morgan Stanley upgraded shares of Teradata from an underweight rating to an equal weight rating and raised their price target for the stock from $31.00 to $40.00 in a research report on Tuesday, January 23rd. Wells Fargo & Co raised their price target on shares of Teradata from $27.50 to $30.00 and gave the stock an underperform rating in a research report on Friday. BMO Capital Markets raised their price target on shares of Teradata from $32.00 to $40.00 and gave the stock a market perform rating in a research report on Friday, November 3rd. Royal Bank of Canada restated a hold rating and issued a $30.00 price target on shares of Teradata in a research report on Wednesday, October 18th. Finally, Cowen upgraded shares of Teradata from a market perform rating to an outperform rating in a research report on Friday, February 2nd. Four equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and three have issued a buy rating to the company. The company presently has an average rating of Hold and a consensus target price of $34.82.
Teradata (NYSE TDC) traded down $2.30 during trading on Friday, hitting $35.00. 5,688,011 shares of the stock were exchanged, compared to its average volume of 1,411,464. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.56 and a current ratio of 1.65. Teradata has a one year low of $27.05 and a one year high of $42.74. The company has a market cap of $4,513.30, a P/E ratio of 37.68, a P/E/G ratio of 12.43 and a beta of 1.24.
Teradata announced that its Board of Directors has authorized a stock buyback plan on Thursday, February 8th that permits the company to repurchase $310.00 million in outstanding shares. This repurchase authorization permits the technology company to purchase shares of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s leadership believes its stock is undervalued.
In other news, CFO Mark Culhane acquired 4,500 shares of the business’s stock in a transaction that occurred on Friday, December 1st. The shares were purchased at an average cost of $37.66 per share, for a total transaction of $169,470.00. Following the transaction, the chief financial officer now directly owns 29,924 shares in the company, valued at approximately $1,126,937.84. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 1.73% of the company’s stock.
A number of large investors have recently modified their holdings of TDC. Oppenheimer & Co. Inc. bought a new stake in Teradata in the 4th quarter valued at about $207,000. PNC Financial Services Group Inc. lifted its position in Teradata by 0.4% in the 2nd quarter. PNC Financial Services Group Inc. now owns 7,236 shares of the technology company’s stock valued at $213,000 after purchasing an additional 31 shares during the last quarter. Commerce Bank bought a new stake in Teradata in the 3rd quarter valued at about $223,000. ARP Americas LP bought a new stake in Teradata in the 4th quarter valued at about $238,000. Finally, Price Capital Management Inc. bought a new stake in Teradata in the 4th quarter valued at about $242,000. Hedge funds and other institutional investors own 97.94% of the company’s stock.
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Teradata Corporation is a provider of analytic data platforms, analytic applications and related services. The Company’s segments include Americas region (North America and Latin America) and International region (Europe, Middle East, Africa, Asia Pacific and Japan). Its offerings include analytics solutions, ecosystem architecture consulting and hybrid cloud solutions.
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