Teradata increases share repurchase authorization by $300M Teradata Corporation announced that its board has authorized an additional $300M for share repurchases under its general open market share repurchase program. The prior $300M authorized in February of 2012 has been used to purchase 3.5M shares of Teradata's stock during 2012, largely in Q4. The company has approximately $81M remaining on the February 2012 authorization. The company also has an ongoing anti-dilution offset repurchase program under which it repurchases common stock in the open market to offset employee stock purchases and option exercises under the company's various employee benefit plans. In total, the company has repurchased 4.3M shares in 2012, again largely during Q4.
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Teradata downgraded to Equal Weight from Overweight at Barclays Barclays downgraded Teradata to Equal Weight citing headwinds from increased big data tool usage. The firm keeps a $46 price target for shares.