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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 $1.6B, most recent closing price at $31.64. 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 4.83% above its 20-day moving average, 10.63% above its 50-day moving average, and 23.38% above its 200-day moving average. The 2 top holders of the stock are FMR, LLC, and Lord, Abbett & Co.

2. DigitalGlobe, Inc. (DGI): Provides commercial earth imagery products and solutions. Market cap at $1.34B, most recent closing price at $28.41. Net institutional purchases in the current quarter at 5.9M shares, which represents about 16.52% of the company's float of 35.71M shares. The stock is currently trading 8.3% above its 20-day moving average, 12% above its 50-day moving average, and 45% above its 200-day moving average. The 2 top holders of the stock are Wellington Management, and Morgan Stanley.

3. Freescale Semiconductor Holdings I, Ltd. (FSL): Engages in processing semiconductors and solutions for automotive, networking, industrial, and consumer markets worldwide. Market cap at $2.94B, most recent closing price at $11.84. Net institutional purchases in the current quarter at 6.1M shares, which represents about 11.96% of the company's float of 51.02M shares. The stock is currently trading 4% above its 20-day moving average, 18% above its 50-day moving average, and 13% above its 200-day moving average. The 2 top holders of the stock are Blackstone, and Carlyle Group.

4. CGI Group, Inc. (GIB): Provides information technology services (IT) and business process services in Canada, the United States, India, Europe, and the Asia Pacific. Market cap at $6.76B, most recent closing price at $24.63. Net institutional purchases in the current quarter at 45.3M shares, which represents about 22.62% of the company's float of 200.23M shares. The stock is currently trading 1.4% above its 20-day moving average, 2% above its 50-day moving average, and 1.65% above its 200-day moving average. The 2 top holders of the stock are Caisse De Depot Et Placement Du Quebec, and FMR, LLC.

5. Interxion Holding NV (INXN): Provides carrier-neutral colocation data center services in Europe. Market cap at $1.6B, most recent closing price at $23.87. 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 0.57% above its 20-day moving average, 6.3% above its 50-day moving average, and 19% above its 200-day moving average. The 2 top holders of the stock are D.E. Shaw, and Thornburg Investment Management.

6. The KEYW Holding Corporation (KEYW): Provides mission-critical cybersecurity and cyber superiority solutions to defense, intelligence, and national security agencies in the United States. Market cap at $445.87M, most recent closing price at $12.75. Net institutional purchases in the current quarter at 7.0M shares, which represents about 22.76% of the company's float of 30.76M shares. The stock is currently trading 0.9% above its 20-day moving average, 0.7% above its 50-day moving average, and 14% above its 200-day moving average. The 2 top holders of the stock are BAMCO Inc., and Alliance Bernstein.

7. Monolithic Power Systems Inc. (MPWR): Designs, develops, manufactures, and markets analog and mixed-signal semiconductors. Market cap at $831.65M, most recent closing price at $23.44. Net institutional purchases in the current quarter at 3.2M shares, which represents about 10.2% of the company's float of 31.36M shares. The stock is currently trading 4.25% above its 20-day moving average, 12.86% above its 50-day moving average, and 20.88% above its 200-day moving average. The 2 top holders of the stock are FMR, LLC, and Frontier Capital Management.

8. Pendrell Corporation (PCO): Provides corporate intellectual property solutions and litigation insights to Fortune 500 companies and technology firms worldwide. Market cap at $336.17M, most recent closing price at $1.29. Net institutional purchases in the current quarter at 36.2M shares, which represents about 22.67% of the company's float of 159.68M shares. The stock is currently trading 1% above its 20-day moving average, 8.1% above its 50-day moving average, and 4.5% above its 200-day moving average. The 2 top holders of the stock are Highland Capital Management, and Kleinheinz Capital Partners.

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

Source: Hedge Funds Are Buying These 8 Rallying Technology Stocks