Slimming EDS Draws Mixed Reviews

He therefore expects the stock to keep moving higher.

"While our long-term concerns are meaningful, we do not expect these issues will show much impact in the next couple of quarters," he wrote. Moreover, "we anticipate further encouraging commentary from management in upcoming interactions with investors, which could extend the recent rally in the stock."

Nevertheless, Djurdjevic doubts that a real turnaround is under way.

"Maybe some gullible Wall Street analysts or investors are lapping up [the company's] rosy forecasts and turning them into their own 'feel-good' fables," Djurdjevic noted this summer. "But count us out."

Djurdjevic is convinced that EDS shares are seriously overvalued. Therefore, he doubts that a buyer would be interested in taking over the company right now. And he has worries that current management will just keep hurting the company more.

"The faster the board gets rid of [Jordan], the better off EDS shareholders will be," Djurdjevic said. "He's so out of touch."