While the new year generally delivered a sense of optimism, it’s important for investors not to ignore overlooked tech stocks to buy. Of course, the broader technology space inherently commands significant attention. After all, the underlying enterprises form the backbone of various innovations that spark myriad conveniences and improved productivity. Still, not all entities will command the same magnitude of attention.

It really comes down to a math problem. According to Investopedia, about 5,000 indexes cover the U.S. equities market. When you broaden the horizon to Europe and Asia, you’re talking about a massive library of potential opportunities. And while we’re talking about overlooked tech stocks to buy, that’s still a remarkably large number. For instance, the tech-centric Nasdaq Composite tracks more than 2,500 securities.

Thus, it’s inevitable that some companies won’t attract the attention they deserve. Fortunately for you, you can exploit this dynamic for enhanced profitability potential. Below are seven overlooked tech stocks to consider.

UiPath (PATH)

A global software company, UiPath (NYSE:PATH) specializes in robotic process automation software. According to its public profile, the company’s software monitors user activity to automate repetitive front and back office tasks, including those performed using other business software such as customer relationship management or enterprise resource planning software. Although PATH gained a blistering 31% since the Jan. opener, it’s still technically undervalued as it’s down 56% in the trailing year.

Further, since its public market debut in April 2021, data from Google Finance reveals that PATH dropped more than 78%. Because of the sharp losses, PATH has become one of the overlooked tech stocks. Nevertheless, those that want to wager on a potentially viable business may want to give it some consideration.

According to Grand View Research, the global robotic process automation market reached a valuation of $1.89 billion in 2021. From 2022 to 2030, experts project that it will expand at a compound annual growth rate (CAGR) of 38.2%. At the end of the forecasted period, the sector may see total revenue of $30.85 billion.

Notably, Wall Street analysts peg PATH as a consensus moderate buy. Further, they anticipate shares rising to $18.41, implying a nearly 15% upside potential.

Fiserv (FISV)

A multinational corporation, Fiserv (NASDAQ:FISV) provides financial technology services to clients across the financial services sector. These players include banks, thrifts, credit unions, securities broker-dealers, mortgage, insurance, leasing, and finance companies and retailers. Since the January opener, FISV gained more than 14%. As well, in the trailing year, shares gained 23% of equity value.

Nevertheless, you can make the case that FISV stands among the overlooked tech stocks because of the financials. Objectively, despite its positive performance, it remains undervalued. In particular, the market prices FISV at a forward multiple of 15.73. As a discount to earnings, Fiserv ranks better than 71.24% of sector players.

Also, the company benefits from operational strengths. Its three-year revenue growth rate stands at 12%, beating out 62.35% of competitors. And its net margin pings at 14.26%, above nearly 90% of its rivals. Turning to Wall Street, analysts peg FISV as a consensus moderate buy. Also, their average price target stands at $129, implying over 11% upside potential.

Western Digital (WDC)

Headquartered in San Jose, California, Western Digital (NASDAQ:WDC) is a computer drive manufacturer and data storage company. Per its corporate profile, it designs, manufactures, and sells data technology products, including data storage devices, data center systems, and cloud storage services. Since the beginning of Jan., WDC popped dramatically higher to the tune of almost 36%. However, it’s still down nearly 25% in the trailing year.

Still, astute investors probably won’t mind the red ink as WDC represents one of the overlooked tech stocks to buy. Primarily, the market prices WDC at 0.86 times (trailing) sales. As a discount to growth, Western Digital ranks better than 63% of the competition. Also, WDC trades hands at 1.12 times the book value. In contrast, the sector median value stands at 1.72 times.

Further, Wall Street analysts appreciate the opportunity that Western Digital provides, pegging shares as a consensus moderate buy. While the average upside potential of 7% doesn’t seem like much, Mizuho’s latest upgrade targets WDC to hit $50. That would represent more than 17% growth potential.

Amkor Technology (AMKR)

A computer chip specialist, Amkor Technology (NASDAQ:AMKR) is a semiconductor product packaging and test services provider. Specifically, it packages and tests integrated circuits for chip manufacturers. As a “background player” in the chipmaking space, AMKR does very well. This year, shares moved up nearly 6%. And in the trailing year, they gained over 11% of equity value.

Still, despite the positive performance, arguably most folks would consider AMKR as one of the overlooked tech stocks. First, it doesn’t really pop up that frequently among investor publications. Second, it’s objectively undervalued. Currently, the market prices AMKR at a trailing multiple of 8.66, below the sector median of 18.66 times.

Moreover, AMKR trades hands at 9.26 times forward earnings. As a discount to earnings, Amkor ranks better than 90.54% of the competition. Per Wall Street analysts, AMKR rates as a consensus moderate buy. Additionally, their average price target stands at $35, implying 30% upside potential.

Cognizant Technology (CTSH)

Based in New Jersey, Cognizant Technology (NASDAQ:CTSH) operates as an information technology (IT) services and consulting company. According to its website, Cognizant helps companies modernize technology, reimagine processes and transform experiences so they stay ahead in a fast-changing world. So far this year, CTSH moved up over 15%. However, it presents a discount on the charts, shedding nearly 23% in the trailing year.

Not only does CTSH stand among the overlooked tech stocks, but in my opinion, it could be grossly overlooked. Let’s start with the fiscal strength. Its Altman Z-Score of 6.6 reflects a very low bankruptcy risk. Operationally, Cognizant features a 7.7% three-year revenue growth rate, slightly better than the industry median. And on the bottom line, it features a net margin of 11.79%, ranked better than nearly 82% of the competition.

Despite these attributes, the market prices CTSH at a forward multiple of 14.64. As a discount to earnings, Cognizant ranks above 74.61% of its peers. Per Gurufocus.com, CTSH also trades slightly under fair value based on its discounted cash flow (DCF) analysis. It gets no love from analysts though so be aware of that.

Kulicke and Soffa Industries (KLIC)

Based in Singapore, Kulicke and Soffa Industries (NASDAQ:KLIC) is one of the overlooked tech stocks that I’ve been discussing for quite some time over the past few months. Kulicke is a leading provider of semiconductor, LED, and electronic assembly solutions serving the global automotive, consumer, communications, computing, and industrial markets. Though KLIC gained nearly 26% of equity value this year, over the past 365 days, it’s up only 1%.

Previously, I believe I stated that KLIC represents one of the criminally overlooked tech stocks or something to that effect. I still stand by that statement. On the balance sheet, the company features a robust cash-to-debt ratio of nearly 17 times. Operationally, its three-year revenue growth rate stands at 44.2%. On the bottom line, Kulicke posted a trailing-year net margin of 25.8%, which dominates its sector.

Despite the above attributes, the market prices KLIC at a trailing multiple of 10.4. As a discount to earnings, Kulicke ranks better than 70.29% of its rivals. Finally, Wall Street analysts peg KLIC as a consensus moderate buy. Their average price target of $61.67 implies 14% upside potential.

Global Payments (GPN)

A global financial technology (fintech) company, Global Payments (NYSE:GPN) provides payment technology and services to merchants, issuers, and consumers. In the year so far, Global Payments is attempting to engineer a comeback effort. Shares gained over 17% of equity value since the Jan. opener. However, the company has work to do. In the trailing year, GPN slipped nearly 15%.

Admittedly, it’s a very risky proposition among overlooked tech stocks; hence, I stuck it in last place on this list. Further, Gurufocus.com warns its users that GPN may be a possible value trap. Therefore, caution is key. That said, speculators will likely appreciate its three-year revenue growth rate of 9.7%, which beats out 73% of its rivals. Also, the company features a strong operating margin of 18.63%.

Presently, the market prices GPN at a forward multiple of 11.36. As a discount to earnings, Global Payments outpaces 68.21% of its peers.

Turning to Wall Street, analysts peg GPN as a consensus moderate buy. As well, their average price target stands at $139.47, implying upside potential of nearly 19%.

On the date of publication, Josh Enomoto did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.