5 Smart Money Tech Stock Picks Trading Near Highs

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 |  Includes: BLKB, FNDT, JKHY, MLNX, N
by: Kapitall

If you like to follow what hedge funds are buying, you may be interested in this list.

We ran a screen on the tech sector for stocks with significant buying interest from institutional investors such as hedge fund managers and mutual fund managers. We then screened these stocks for those trading near their 52-week highs.

Interactive Chart: Press Play to compare changes in analyst ratings over the last two years for the stocks mentioned below. Analyst ratings sourced from Zacks Investment Research.‬

We also created a price-weighted index of the stocks mentioned below, and monitored the performance of the list relative to the S&P 500 index over the last month. To access a complete analysis of this list's recent performance, click here.


(Click to enlarge)

Do you think these stocks will break through to new highs? Use this list as a starting-off point for your own analysis.

List sorted by net institutional purchases as a percent of share float.

1. Mellanox Technologies, Ltd. (NASDAQ:MLNX): Engages in the design, development, marketing, and sale of interconnect products primarily in North America, Israel, Europe, and Asia. Market cap of $1.28B. The stock is currently trading at 2.53% below its 52-week high. Net institutional shares purchased over the current quarter at 3.3M, which is 12.25% of the company's 26.94M share float. The stock has gained 56.87% over the last year.

2. Jack Henry & Associates Inc. (NASDAQ:JKHY): Provides integrated computer systems and services for in-house and outsourced data processing to commercial banks, credit unions, and other financial institutions primarily in the United States. Market cap of $2.89B. The stock is currently trading at 1.53% below its 52-week high. Net institutional shares purchased over the current quarter at 7.9M, which is 9.69% of the company's 81.55M share float. The stock has gained 23.69% over the last year.

3. NetSuite Inc. (NYSE:N): Provides an on-demand integrated business management application suite to businesses and divisions of companies worldwide. Market cap of $2.98B. The stock is currently trading at 0.39% below its 52-week high. Net institutional shares purchased over the current quarter at 2.2M, which is 8.79% of the company's 25.02M share float. The stock is a short squeeze candidate, with a short float at 13.06% (equivalent to 7.25 days of average volume). The stock has had a couple of great days, gaining 5.3% over the last week.

4. Blackbaud Inc. (NASDAQ:BLKB): Provides software and related services for nonprofit organizations worldwide. Market cap of $1.30B. The stock is currently trading at 2.87% below its 52-week high. Net institutional shares purchased over the current quarter at 2.8M, which is 6.5% of the company's 43.10M share float. Exhibiting strong upside momentum--currently trading 5.75% above its SMA20, 15.42% above its SMA50, and 12.54% above its SMA200. The stock has had a good month, gaining 17.29%.

5. Fundtech Ltd. (NASDAQ:FNDT): Provides end-to-end financial transaction processing software solutions for financial institutions in Israel and internationally. Market cap of $363.75M. The stock is currently trading at 0.69% below its 52-week high. Net institutional shares purchased over the current quarter at 350.9K, which is 6.20% of the company's 5.66M share float. The stock has gained 63.09% over the last year.

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

Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.