Teradata Co. (NYSE:TDC) Shares Sold by State of Michigan Retirement System

State of Michigan Retirement System lowered its position in shares of Teradata Co. (NYSE:TDC) by 2.9% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 23,342 shares of the technology company’s stock after selling 700 shares during the period. State of Michigan Retirement System’s holdings in Teradata were worth $807,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in TDC. Versor Investments LP acquired a new position in Teradata during the fourth quarter worth approximately $1,049,000. Norges Bank purchased a new position in shares of Teradata during the fourth quarter worth approximately $54,332,000. Russell Investments Group Ltd. grew its position in shares of Teradata by 61.5% during the first quarter. Russell Investments Group Ltd. now owns 125,369 shares of the technology company’s stock worth $4,848,000 after acquiring an additional 47,741 shares during the last quarter. Redwood Investment Management LLC increased its holdings in shares of Teradata by 295.6% in the 4th quarter. Redwood Investment Management LLC now owns 138,867 shares of the technology company’s stock valued at $6,042,000 after acquiring an additional 103,761 shares during the period. Finally, Norden Group LLC raised its position in Teradata by 2,129.9% in the 1st quarter. Norden Group LLC now owns 112,008 shares of the technology company’s stock valued at $4,331,000 after purchasing an additional 106,985 shares during the last quarter. 90.31% of the stock is owned by hedge funds and other institutional investors.

Teradata Stock Performance

Shares of TDC opened at $28.24 on Friday. The company has a quick ratio of 0.72, a current ratio of 0.75 and a debt-to-equity ratio of 6.87. Teradata Co. has a 52-week low of $24.02 and a 52-week high of $49.44. The company has a 50-day simple moving average of $30.86 and a 200-day simple moving average of $34.23. The company has a market capitalization of $2.71 billion, a PE ratio of 67.24, a P/E/G ratio of 2.61 and a beta of 0.84.

Teradata (NYSE:TDC) last issued its earnings results on Monday, August 5th. The technology company reported $0.64 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.48 by $0.16. The company had revenue of $436.00 million during the quarter, compared to analysts’ expectations of $447.30 million. Teradata had a net margin of 3.45% and a return on equity of 114.57%. The firm’s quarterly revenue was down 5.6% compared to the same quarter last year. During the same period last year, the company posted $0.20 earnings per share. Equities research analysts predict that Teradata Co. will post 1.3 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on TDC. Northland Securities lowered their price objective on shares of Teradata from $49.00 to $38.00 and set an “outperform” rating on the stock in a research report on Tuesday, August 6th. Evercore ISI lowered their price target on Teradata from $46.00 to $34.00 and set an “outperform” rating on the stock in a report on Tuesday, August 6th. UBS Group initiated coverage on Teradata in a research note on Friday, July 19th. They set a “sell” rating and a $32.00 price objective for the company. Morgan Stanley lowered their target price on Teradata from $44.00 to $30.00 and set an “equal weight” rating on the stock in a research note on Tuesday, August 6th. Finally, Guggenheim restated a “buy” rating and set a $60.00 price target on shares of Teradata in a research note on Tuesday, June 25th. Three investment analysts have rated the stock with a sell rating, four have given a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $40.36.

About Teradata

Teradata Corporation, together with its subsidiaries, provides a connected multi-cloud data platform for enterprise analytics. The company offers Teradata Vantage, an open and connected platform designed to leverage data across an enterprise. Its business consulting services include support services for organizations to establish a data and analytic vision, enable a multi-cloud ecosystem architecture, and identify and operationalize analytical opportunities, as well as to ensure the analytical infrastructure delivers value.