While we are lowering our price target to $6, from $8, we view UIS shares attractively valued following the over 20% drop in the share price yesterday compared to the drop in the Russel 2000 Index of 1.86% 3Q:25 results were negative affected mainly driven by a large licensing renewal which was pushed into early 4Q:25. Management scaled back on its 2025 revenue guidance but maintained the non-GAAP operating margin guidance and free cash flow target of $110 million pre-pension funding. While the company is experiencing headwinds in the revenue growth due to macro-economic uncertainties it is laser focused on expenses and cash flow and should be well positioned to expand profitability as they return to revenue growth.