Teradata Corporation (TDC, Financial) is a long-standing provider of data warehouse and analytics software.While the stock was a detractor in the prior quarter, our thesis held that the stock reflected a discarded turnaround story. This past quarter, the company demonstrated it had, indeed, passed through the intermediate negative financial e ects of the subscription model transition as revenue has now stabilized. When the company guided for a return to growth, the significant valuation discount closed, aided by short covering. While the stock recovery was an impressive one, it remains modestly valued.
From Keeley Teton Small Cap Select Value Fund's first-quarter 2021 commentary.