Seeking Alpha
Value, growth, long-term horizon, medium-term horizon
Profile| Send Message|
( followers)  

Do you like to follow smart money buying trends? If so, you may be interested in a screen we ran for a look at stocks currently favored by smart money institutional investors.

We began by screening the technology industry for stocks that are rallying above their 20-day, 50-day, and 200-day moving averages, indicating that these stocks have strong upward momentum.

We then screened for those with bullish sentiment from institutional investors, with significant net institutional purchases over the last quarter representing at least 5% of share float. This indicates that institutional investors such as hedge fund managers and mutual fund managers expect these names to outperform into the future.

For an interactive version of this chart, click on the image below. Analyst ratings sourced from Zacks Investment Research.

Do you think these stocks are poised to outperform? Use this list as a starting point for your own analysis.

1. Cornerstone OnDemand, Inc. (CSOD): Provides learning and talent management solution delivered as software-as-a-service. Market cap at $1.44B, most recent closing price at $28.59.

Net institutional purchases in the current quarter at 2.1M shares, which represents about 5.9% of the company's float of 35.61M shares. The stock is currently trading 3% above its 20-day moving average, 1.4% above its 50-day moving average, and 15% above its 200-day moving average. As of September 30th, 2012, the top 2 holders of the stock are FMR, LLC (15%) and Lord Abbett (5%)

2. Changyou.com Limited (CYOU): Develops and operates online games in the People's Republic of China. Market cap at $1.38B, most recent closing price at $26.06.

Net institutional purchases in the current quarter at 877.6K shares, which represents about 8.87% of the company's float of 9.89M shares. The stock is currently trading 4.7% above its 20-day moving average, 7.3% above its 50-day moving average, and 22% above its 200-day moving average. As of September 30th, 2012, the top 2 holders of the stock are Wellington Management (1.6%) and FMR, LLC (1.2%)

3. Ellie Mae, Inc. Common Stock (ELLI): Hosts electronic mortgage origination network in the United States. Market cap at $700M, most recent closing price at $27.28.

Net institutional purchases in the current quarter at 2.5M shares, which represents about 12.47% of the company's float of 20.05M shares. The stock is currently trading 7.9% above its 20-day moving average, 10.7% above its 50-day moving average, and 34% above its 200-day moving average. As of September 30th, 2012, the top 2 holders of the stock are The Vanguard Group (3.7%) and Capital World Advisors (2.7%)

4. Finisar Corp. (FNSR): Designs, develops, manufactures, and markets optical subsystems and components that are used to interconnect equipment in short-distance local area networks (LANs), storage area networks (SANs), longer distance metropolitan area networks (MANs), fiber-to-the-home networks, cable television networks, and wide area networks. Market cap at $1.46B, most recent closing price at $15.73.

Net institutional purchases in the current quarter at 5.5M shares, which represents about 6.02% of the company's float of 91.35M shares. The stock is currently trading 6.89% above its 20-day moving average, 20% above its 50-day moving average, and 7.6% above its 200-day moving average. As of September 30th, 2012, the top 2 holders of the stock are FMR, LLC (12%) and T. Rowe Price (10%).

5. InterXion Holding NV (INXN): Provides carrier-neutral colocation data center services in Europe. Market cap at $1.57B, most recent closing price at $23.51.

Net institutional purchases in the current quarter at 3.2M shares, which represents about 8% of the company's float of 39.98M shares. The stock is currently trading 5.16% above its 20-day moving average, 7.82% above its 50-day moving average, and 21% above its 200-day moving average. As of September 30th, 2012, the top 2 holders of the stock are D.E. Shaw (2.9%) and Thornburg Investment Management (2.9%).

6. LinkedIn Corporation (LNKD): Operates an online professional network. Market cap at $12.25B, most recent closing price at $114.03.

Net institutional purchases in the current quarter at 7.5M shares, which represents about 8.66% of the company's float of 86.57M shares. The stock is currently trading 1% above its 20-day moving average, 4.68% above its 50-day moving average, and 6.19% above its 200-day moving average. As of September 30th, 2012, the top 2 holders of the stock are Jennison Associates (8%) and T. Rowe Price (7%).

7. NXP Semiconductors NV (NXPI): Provides mixed signal solutions and semiconductor components primarily in Japan, Europe, South Korea, the rest of the Asia Pacific, and the Americas. Market cap at $6.35B, most recent closing price at $25.43.

Net institutional purchases in the current quarter at 6.8M shares, which represents about 9.41% of the company's float of 72.30M shares. The stock is currently trading 1.83% above its 20-day moving average, 4.36% above its 50-day moving average, and 7% above its 200-day moving average. As of September 30th, 2012, the top 2 holders of the stock are Kohlberg, Roberts & Co. (16%) and FMR, LLC (13%).

8. RealPage, Inc. (RP): Engages in the development of multifamily property management software. Market cap at $1.63B, most recent closing price at $21.56.

Net institutional purchases in the current quarter at 6.1M shares, which represents about 13.95% of the company's float of 43.73M shares. The stock is currently trading 3% above its 20-day moving average, 3.52% above its 50-day moving average, and 0.7% above its 200-day moving average. As of September 30th, 2012, the top 2 holders of the stock are William Blair (7%) and T. Rowe Price (7%).

9. Verint Systems Inc. (VRNT): Provides actionable intelligence solutions and value-added services worldwide. Market cap at $1.15B, most recent closing price at $28.74.

Net institutional purchases in the current quarter at 1.7M shares, which represents about 8.76% of the company's float of 19.41M shares. The stock is currently trading 3.56% above its 20-day moving average, 7% above its 50-day moving average, and 2% above its 200-day moving average. As of September 30th, 2012, the top 2 holders of the stock are Cadian Capital Management (10%) and Platinum Management (3.5%).

*Institutional data sourced from Fidelity, all other data sourced from Finviz.

Source: 9 Rallying Technology Stocks Being Snapped Up By Hedge Funds