In this article, we discuss the 5 best stocks to buy now according to billionaire Larry Robbins. If you want to check out our detailed analysis of Glenview Capital, go directly to 10 Best Stocks to Buy Now According to Billionaire Larry Robbins.
5. DXC Technology Company (NYSE:DXC)
Glenview Capital’s Stake Value: $246 million
Percentage of Glenview Capital’s 13F Portfolio: 4.9%
Number of Hedge Fund Holders: 27
Number five on the list of best stocks to buy now according to billionaire Larry Robbins is DXC Technology Company (NYSE:DXC). It is a Virginia based IT company. Glenview leads the hedge funds invested in the company with 7.5 million shares. Harris Associates is a close second, owning 6.7 million shares as of Q1 2022. The total equity owned by 27 hedge funds amounts to $509 million.
On May 26, RBC Capital analyst Daniel Perlin lowered his price target on DXC to $39 from $47 but kept an Outperform rating on the stock. He told investors in his research note that the company’s FY23 guidance was light, but DXC Technology is progressing fast on its transition to a more digitally focused, consistent and transparent operator.
“DXC Technology Company (DXC) continued to climb higher during the quarter gaining 24.57%. The company reported solid Fiscal Year 4th quarter (FY4Q) results with revenue of $4.385B beating consensus of $4.29B and earnings per share (EPS) of $0.74 ahead of expectations for $0.70. The company guided for fiscal 2022 revenue of $16.6-$16.8B, below the Street at $16.9B and adjusted EPS of $3.45-3.65, ahead of the consensus of $3.43. By FY2024, the company expects organic revenue growth of 1-3%, adjusted earnings before income and taxes (EBIT) margin of 10-11%, adjusted diluted EPS of $5.00-$5.25 and free cash flow (FCF) of $1.5B. Later in the month, the company held an investor day where management highlighted their confidence that they can hit all of their targets while also stressing the progress they have made on their turnaround to date.”