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Do you like to trade with the buying trends of smart money institutional investors? We ran a screen with that idea in mind.

We began by screening the services sector for stocks with strong upward momentum, trading within 5% of their 52-week high.

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.

Tool provided by Kapitall.

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

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

1. Frisch's Restaurants Inc. (NYSEMKT:FRS): Operates restaurants in the United States. Market cap at $153.14M, most recent closing price at $31.00. The stock is trading 4.52% below its 52-week high. Net institutional purchases in the current quarter at 90.3K shares, which represents about 96.85% of the company's float of 93.24K shares.

2. Expedia Inc. (NASDAQ:EXPE): Operates as an online travel company in the United States and internationally. Market cap at $7.17B, most recent closing price at $55.58. The stock is trading 3.73% below its 52-week high. Net institutional purchases in the current quarter at 17.8M shares, which represents about 22.08% of the company's float of 80.63M shares.

3. Canadian Pacific Railway Limited (NYSE:CP): Provides rail and intermodal freight transportation services. Market cap at $13.92B, most recent closing price at $80.25. The stock is trading 2.51% below its 52-week high. Net institutional purchases in the current quarter at 12.7M shares, which represents about 8.66% of the company's float of 146.60M shares.

4. Cracker Barrel Old Country Store, Inc. (NASDAQ:CBRL): Engages in the operation and development of the Cracker Barrel Old Country Store restaurant and retail concept in the United States. Market cap at $1.45B, most recent closing price at $62.03. The stock is trading 2.80% below its 52-week high. Net institutional purchases in the current quarter at 1.1M shares, which represents about 6.11% of the company's float of 18.00M shares.

5. Global Partners LP (NYSE:GLP): Engages in the wholesale and commercial distribution of refined petroleum products and natural gas, and provides ancillary services in the United States and internationally. Market cap at $663.53M, most recent closing price at $23.64. The stock is trading 4.68% below its 52-week high. Net institutional purchases in the current quarter at 673.8K shares, which represents about 5.56% of the company's float of 12.11M shares.

6. GP Strategies Corp. (NYSE:GPX): Provides customized training solutions focused on performance improvement initiatives, as well as consulting, engineering, and technical services in the United States, the United Kingdom, and internationally. Market cap at $318.07M, most recent closing price at $17.67. The stock is trading 2.58% below its 52-week high. Net institutional purchases in the current quarter at 733.9K shares, which represents about 5.56% of the company's float of 13.20M shares.

7. Barrett Business Services Inc. (NASDAQ:BBSI): Offers various human resource management services to small and medium-sized businesses in the United States. Market cap at $179.71M, most recent closing price at $25.71. The stock is trading 2.55% below its 52-week high. Net institutional purchases in the current quarter at 364.6K shares, which represents about 5.38% of the company's float of 6.78M shares.

8. DineEquity, Inc. (NYSE:DIN): Develops, franchises, and operates full-service restaurant chains in the United States and internationally. Market cap at $953.4M, most recent closing price at $51.10. The stock is trading 3.88% below its 52-week high. Net institutional purchases in the current quarter at 814.7K shares, which represents about 5.34% of the company's float of 15.25M shares.

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

Source: 8 Services Stocks Trading Near Highs On Hedge Fund Buying