In this article, we will look at the 10 Undervalued Tech Stocks Flying Under Wall Street’s Radar.
Global IT spending is expected to reach $3.8 trillion in 2025, a 3.8% year-over-year increase, according to HG Insights’ latest market report. The biggest takeaway from the report is that the global technology sector continues to show growth momentum as companies increase their technology investments across multiple segments.
However, recent market data indicate that the tech sector has exhibited mixed trading patterns, with performance varying significantly between large-cap technology names and smaller companies. In May, for instance, the tech-heavy Nasdaq Composite rose 9.56%, mainly driven by mega-cap tech stocks such as those in the “Magnificent Seven” cohort. Meanwhile, the Russell 2000, a proxy for small-cap stocks, gained only 5.20%.
But this divergence shouldn’t confuse investors to the point of putting their eggs in one basket, Goldman Sachs’ analysts warn. Alexandra Wilson-Elizondo, Co-Chief Investment Officer of Multi-Asset Solutions, characterized the current environment as requiring “more selective optimism rather than broad bullishness.” She notes that all tech names are benefiting equally from the current cycle.
vichie81/Shutterstock.com
Our Methodology
To compile this list, we used the Finviz screener, filtering for tech companies with a forward P/E less than 15, to create the initial pool of stocks. Then, we identified the analyst upside potential for each stock (as of June 28) and only picked those with a reading above 5%. Lastly, we combed through Insider Monkey’s institutional holding database (for Q1 2025) to establish the popularity of each company among hedge funds. We then ranked the stocks based on analyst upside potential and selected the top 10. This list is in ascending order.
Why are we interested in the stocks that hedge funds pile into? The reason is simple: our research has shown that we can outperform the market by imitating the top stock picks of the best hedge funds. Our quarterly newsletter’s strategy selects 14 small-cap and large-cap stocks every quarter and has returned 373.4% since May 2014, beating its benchmark by 218 percentage points (see more details here).
Undervalued Tech Stocks Flying Under Wall Street’s Radar
10. SS&C Technologies Holdings, Inc. (NASDAQ:SSNC)
Analyst Upside Potential as of June 28: 9.10%
Forward P/E: 14.01
Number of Hedge Fund Holders: 46
SS&C Technologies Holdings, Inc. (NASDAQ:SSNC) is one of the 10 undervalued tech stocks flying under Wall Street’s radar. On June 18, Wesleyan Assurance Society partnered with SS&C Technologies to launch a digital-first wealth management platform, enhancing a 20-year relationship. SS&C Hubwise will power the platform, offering advisers centralized tools to manage investments and expand product offerings for clients.
Set to pilot in June 2025, the initiative supports Wesleyan’s flagship funds and targets professionals like doctors and teachers. With over £20 billion in assets, SS&C Hubwise’s rapid growth underscores its role in modernizing financial advice amid rising regulatory and tech demands.
SS&C Technologies Holdings, Inc. (NASDAQ:SSNC) is a leading global provider of software and services tailored to the financial services and healthcare sectors. Established in 1986 and headquartered in Windsor, Connecticut, the company operates a worldwide network of offices. Over 22,000 organizations—from major global enterprises to small and mid-sized firms—depend on SS&C’s technology, scale, and industry expertise.
9. QUALCOMM Incorporated (NASDAQ:QCOM)
Analyst Upside Potential as of June 28: 10.04%
Forward P/E: 13.18
Number of Hedge Fund Holders: 82
QUALCOMM Incorporated (NASDAQ:QCOM) is one of the 10 undervalued tech stocks flying under Wall Street’s radar. On June 26, Silicon Motion (NASDAQ:SIMO) announced that it had completed compatibility validation of its Universal Flash Storage (UFS) solution with QUALCOMM’s Snapdragon Cockpit SA8295P platform. The Snapdragon Cockpit SA8295P platform is a high-performance automotive platform.
According to Silicon Motion, its UFS solution supports UFS 3.1 advanced features, including HS-Gear4 x 2-lane mode and command queuing. It is designed to deliver superior performance, multitasking support, and high reliability for automotive applications. The compatibility enables automotive customers to confidently adopt the UFS solution in designs utilizing the SA8295P platform for Automotive Safety Integrity Level B (ASIL-B) applications. ASIL-B is a safety standard for automotive systems.
The collaboration aligns with Qualcomm’s broader efforts to advance automotive technologies. This includes intelligent cockpit solutions, as seen in other partnerships, such as the one with PATEO CONNECT for the Snapdragon Cockpit Elite platform.
QUALCOMM Incorporated (NASDAQ:QCOM) is a semiconductor and wireless technology company. It designs and sells chips and software for smartphones, vehicles, and connected devices under its QCT segment and licenses its wireless patents through the QTL segment. Its best-known brand is Snapdragon, which powers many Android phones and automotive systems.
8. Fidelity National Information Services, Inc. (NYSE:FIS)
Analyst Upside Potential as of June 28: 10.22%
Forward P/E: 12.94
Number of Hedge Fund Holders: 56
Fidelity National Information Services, Inc. (NYSE:FIS) is one of the 10 undervalued tech stocks flying under Wall Street’s radar. On June 26, the company announced that it has expanded its partnership with Visa (NYSE:V) to provide new payment solutions for financial institutions.
According to the statement, the expanded collaboration focuses on delivering innovative payment solutions to regional and community banks. The goal is to enable them to compete with larger issuers by lowering barriers to advanced payment technologies. Fidelity National hopes that the capability will help the financial institutions “grow revenues, enhance customer retention, and reduce fraud losses.”
The new capabilities introduced include Stop Payment Services, which enable cardholders and call centers to halt recurring payments to merchants. Wallet Link allows issuers to push their branded digital card directly to a customer’s digital wallet. At the same time, eCommerce Fraud Mitigation enables issuers to increase their eCommerce transaction approval rates and eliminate chargeback liability. Lastly, Digital Campaign Manager helps financial institutions leverage new marketing channels, including augmented reality events and other digital experiences, for customer acquisition and engagement.
Fidelity National Information Services, Inc. (NYSE:FIS) is a financial technology company. It provides banking and payment solutions to over 20,000 clients in more than 100 countries, including banks, capital markets firms, and businesses. Its main segments are Banking Solutions (core banking, digital banking, fraud and compliance tools) and Capital Market Solutions (trading, treasury, and risk management software).
7. Leidos Holdings, Inc. (NYSE:LDOS)
Analyst Upside Potential as of June 28: 12.09%
Forward P/E: 13.43
Number of Hedge Fund Holders: 47
Leidos Holdings, Inc. (NYSE:LDOS) is one of the 10 undervalued tech stocks flying under Wall Street’s radar. On June 23, Stifel Nicolaus issued a “Buy” rating for Leidos after resuming coverage of the company. The firm also set a price target of $178.
Stifel described Leidos as a “well-diversified” government services contractor. The analysts also highlighted the company’s “strong strategy” to pivot toward growth areas, positioning the company for future expansion.
The analysts set a price target of $178 based on a projected 13x EV/EBITDA multiple for 2026, which they noted is consistent with Leidos’s historical averages and in line with comparable industry peers.
Leidos Holdings, Inc. (NYSE:LDOS) is a U.S.-based technology and engineering company. It delivers solutions in defense, intelligence, civil, and health markets through four main segments: National Security & Digital, Health & Civil, Commercial & International, and Defense Systems. Its offerings include cybersecurity, AI-powered mission software, air traffic control systems, border security tech, and energy grid modernization.
6. Zoom Communications Inc. (NASDAQ:ZM)
Analyst Upside Potential as of June 28: 14.12%
Forward P/E: 13.82
Number of Hedge Fund Holders: 49
Zoom Communications Inc. (NASDAQ:ZM) is one of the 10 undervalued tech stocks flying under Wall Street’s radar. On June 11, Zoom Communications, Inc. (NASDAQ: ZM) announced the expansion of its Zoom Phone service to four major telecom circles in India—Mumbai, Delhi NCR, Karnataka, and Andhra Pradesh & Telangana—bringing its coverage to six regions in total. Licensed by India’s Department of Telecommunications, Zoom Phone is part of the company’s strategy to offer AI-driven, cloud-based telephony in the country’s top business hubs.
The service, integrated with Zoom Workplace and Zoom Contact Center, supports PSTN calling and includes AI features like post-call summaries and voicemail prioritization. Businesses can also acquire local numbers across supported regions, maintaining seamless communication even in areas where Zoom Phone isn’t directly available. This rollout marks a significant step in Zoom’s effort to support India’s transition from legacy PBX systems to flexible, modern collaboration platforms.
Zoom Communications Inc. (NASDAQ:ZM) is a communications technology company. It provides a cloud-based platform for video meetings, team chat, VoIP phone services, webinars, and collaboration tools like whiteboards and scheduling. Its key offerings include Zoom Meetings, Zoom Phone, Zoom Rooms, and Zoom Contact Center.
5. Cognizant Technology Solutions Corporation (NASDAQ:CTSH)
Analyst Upside Potential as of June 28: 14.68%
Forward P/E: 14.32
Number of Hedge Fund Holders: 49
Cognizant Technology Solutions Corporation (NASDAQ:CTSH) is one of the 10 undervalued tech stocks flying under Wall Street’s radar. Cognizant said on June 25 that it has deepened its partnership with Salesforce (NYSE:CRM) regarding the Agentforce platform. The company has introduced new services for the Agentforce platform, which focuses on “deploying, scaling, and governing enterprise-grade AI agents.” These services will help enterprises accelerate their transition to an AI-augmented workforce.
Agentforce is Salesforce’s digital labor platform that facilitates the deployment, scaling, and governance of enterprise-grade AI agents. It streamlines the process of integrating AI agents into business workflows.
Cognizant is an Agentforce launch partner, and about 60% of Cognizant’s Salesforce practice is certified in AI specializations. 15% are designated as Agentforce Specialists. The company is currently implementing Agentforce for over 25 clients across diverse industries. According to the company, one retail client reported a significant reduction in case cycle times, with year-over-year decreases of up to 52% and quarter-over-quarter decreases of 30%.
Cognizant Technology Solutions Corporation (NASDAQ:CTSH) is a Teaneck, New Jersey-based IT services and consulting company. It provides digital transformation, software development, cloud, AI, cybersecurity, and business process outsourcing services to organizations worldwide. Some of the clients include banks, insurers, healthcare firms, manufacturers, and tech companies.
4. Hewlett Packard Enterprise Company (NYSE:HPE)
Analyst Upside Potential as of June 28: 15.43%
Forward P/E: 8.73
Number of Hedge Fund Holders: 45
Hewlett Packard Enterprise Company (NYSE:HPE) is one of the 10 undervalued tech stocks flying under Wall Street’s radar. On June 25, during the HPE Discover Las Vegas 2025 event, the company announced the expansion of its ProLiant Compute Gen12 server portfolio. HPE added two new servers to the ProLiant Compute Gen12 portfolio: the HPE ProLiant Compute DL345 Gen12 and HPE ProLiant Compute DL325 Gen12. Both servers are powered by 5th Generation AMD EPYC processors (previously codenamed Turin).
The DL325 and DL345 Gen12 servers feature up to 6TB of memory capacity, which doubles the memory capacity of the previous Gen11 servers. Additionally, the 5th Gen AMD EPYC processors are designed to optimize memory-intensive workloads, including virtualization, virtual desktop infrastructure (VDI), and container workloads.
According to HPE, the new servers are optimized for virtualization, VDI, and edge deployments. Specifically, the company designed them to support AI-driven management and high-performance computing needs. The servers are available for order as of June 25, 2025, with shipping expected to begin in July 2025.
Hewlett Packard Enterprise Company (NYSE:HPE) is an IT infrastructure and services firm. It provides solutions for cloud computing, data storage, networking, and edge computing through segments like Server, Hybrid Cloud, Intelligent Edge, and Financial Services. HPE serves enterprise, government, and service provider clients across more than 170 countries.
3. Telefonaktiebolaget LM Ericsson (NASDAQ:ERIC)
Analyst Upside Potential as of June 28: 16.11%
Forward P/E: 14.14
Number of Hedge Fund Holders: 15
Telefonaktiebolaget LM Ericsson (NASDAQ:ERIC) is one of the 10 undervalued tech stocks flying under Wall Street’s radar. Ericsson revealed on June 26 that it is establishing a new unit dedicated to Application-Specific Integrated Circuit (ASIC) design in Bengaluru, India. The company plans to add more than 150 new positions to its R&D team in Bengaluru to support this initiative.
In the statement, Ericsson said the expansion aims to enhance its capabilities in semiconductor design by leveraging India’s local technology competence. At the same time, the company is convinced that the new unit will contribute to strengthening India’s semiconductor ecosystem. The initiative aligns with Ericsson’s global strategy to advance its portfolio, particularly through its Ericsson Silicon platform. The Ericsson Silicon consists of a range of System-on-Chip (SoC) solutions specifically designed for mobile networks. These SoCs are integrated across the entire Ericsson Radio System, including radio access networks (RAN), Compute (basebands), Radio, and Transport.
The Bengaluru unit will focus on tasks such as chip design, verification, and integration, supporting Ericsson’s proprietary Silicon platform. The chips developed are expected to enhance energy efficiency, processing capabilities, and network flexibility for 5G and future network technologies.
Telefonaktiebolaget LM Ericsson (NASDAQ:ERIC) is a Swedish telecommunications equipment and services company. It provides mobile network infrastructure, cloud software, and enterprise connectivity solutions. Its key offerings include RAN, 5G core systems, private cellular networks, and managed services.
2. Corpay, Inc. (NYSE:CPAY)
Analyst Upside Potential as of June 28: 19.45%
Forward P/E: 13.35
Number of Hedge Fund Holders: 40
Corpay, Inc. (NYSE:CPAY) is one of the 10 undervalued tech stocks flying under Wall Street’s radar. On June 17, the company signed a multi-year agreement to extend its exclusive collaboration with West Ham United. West Ham United is a London-based Premier League football club, and the deal allows Corpay to continue as its official foreign exchange (FX) and international payments partner.
The partnership began in 2018, making this an extension of a seven-year collaboration. Under the extended agreement, West Ham United and its network of corporate business partners will continue to have access to Corpay Cross-Border’s global payments and currency risk management solutions. On its part, Corpay will continue to host exclusive networking opportunities and events at London Stadium, the club’s home ground, to engage with the club’s business network.
West Ham’s Chief Financial Officer, Andy Mollett, stated that Corpay cross-border solutions have become a core part of their global payment operations, providing “exceptional support and expertise.” On the other hand, Nathan Thompson, the club’s Executive Director, highlighted the partnership as critical to the club’s international business requirements and global reach.
Corpay, Inc. (NYSE:CPAY) is a global corporate payments company. It helps hundreds of thousands of businesses in over 100 countries manage and pay for expenses, including fuel, lodging, vendor invoices, and international transactions. Its main segments include Vehicle Payments, Corporate Payments, and Lodging Payments.
1. Nokia Oyj (NYSE:NOK)
Analyst Upside Potential as of June 28: 30.56%
Forward P/E: 12.82
Number of Hedge Fund Holders: 29
Nokia Oyj (NYSE:NOK) is one of the 10 undervalued tech stocks flying under Wall Street’s radar. On June 26, the company announced the departure of Lorna Gibb, its Chief People Officer (CPO). Gibb will also cease to be part of Nokia’s Group Leadership Team.
In the statement, Nokia divulged that Gibb is leaving “to pursue another opportunity” outside of the organization. The departure was effected immediately. Gibb joined Nokia in 2020. As the CPO, she was tasked with evolving the company’s human resources strategy and driving forward its talent and leadership programs. In her place, Esa Niinimäki, the current Chief Legal Officer, will assume CPO responsibilities, though on an interim basis.
Gibb’s exit comes just months after Nokia changed its top leadership. Justin Hotard assumed the role of President and CEO on April 1, 2025, succeeding Pekka Lundmark after his departure.
Nokia Oyj (NYSE:NOK) is a Finnish telecommunications and network infrastructure company. It provides mobile and fixed network equipment, cloud and software solutions, and technology licensing through four segments: Mobile Networks, Network Infrastructure, Cloud and Network Services, and Nokia Technologies. Its key offerings include 5G radio access networks, IP and optical transport systems, and telecom software platforms.
READ NEXT: 11 Best European Stocks to Invest In and 12 Stocks That Will Make You Rich in 10 Years.
Disclosure: None. Insider Monkey focuses on uncovering the best investment ideas of hedge funds and insiders. Please subscribe to our free daily e-newsletter to get the latest investment ideas from hedge funds’ investor letters by entering your email below.
Hedge Fund Resource Center