NCR spun off the company with the belief that it would further strengthen Teradata's position in the data warehouse market, where it's already a leader. IBM and Oracle also have a significant share of the market. Last week, Oracle announced a deal with EMC and Dell to sell data warehouses with pre-configured hardware and software.

Hewlett-Packard is a latecomer with its Neoview data warehouse introduced earlier this year, but it's landed a few big-name customers, including Wal-Mart. Hewlett-Packard announced Monday that it's landed Rabobank, a Netherlands-based financial services company, as a customer of Neoview.

Teradata also has Wal-Mart as a significant customer, and last year was ranked at the leader in the Gartner's magic quadrant of data warehouses and database management systems. The spinoff could also make Teradata an attractive candidate for acquisition. The company is holding its annual user conference in Las Vegas next week.

NCR shareholders received one share of Teradata common stock for every one share of common stock they held in NCR at the close of business on Sept. 14.