U.S. stocks are modestly overvalued, but investors can find opportunities in broad swaths of some sectors that are currently underappreciated, Glenmede Trust Director of Investment Strategy Jason Pride said Monday.
In a slow-growth environment, investors tend to pay too much for shares of companies that are growing, he said. That leads them to overlook companies that have experienced some difficulty in the same spaces as those high-fliers, he said.
This is happening to a "dramatic degree" in the tech sector, Pride told CNBC's "Squawk Box." While names like Facebook and Amazon have run up this year, the rest of the sector is relatively reasonably valued, providing an opportunity for stock pickers to invest in a number of cheaper equities, he said.