So far this year, the company said it has repurchased 4.3 million shares, largely during this quarter.
“The additional $300 million authorized by Teradata’s board of directors for stock repurchases reflects our continued confidence in Teradata’s ability to generate attractive cash from operations well in excess of the capital needed to invest in the future growth of our business,” Steve Scheppmann, Teradata executive vice president and chief financial officer, said in the company’s statement. “Teradata’s strong financial position, with limited debt and attractive cash from operations, affords us the opportunity to drive incremental shareholder returns through share-repurchase activity.”
The company has about 450 employees locally and about 9,000 globally.
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