NEW YORK (

TheStreet

) --

Morningstar

(Nasdaq:

MORN

) hit a new 52-week high Wednesday as it is currently trading at $60.81, above its previous 52-week high of $60.75 with 35,417 shares traded as of 2:02 p.m. ET. Average volume has been 69,800 shares over the past 30 days.

Morningstar has a market cap of $3 billion and is part of the

technology

sector and

computer software & services

industry. Shares are up 13.6% year to date as of the close of trading on Tuesday.

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Morningstar, Inc. provides independent investment research to investors worldwide. The company operates in two segments, Investment Information and Investment Management. The Investment Information segment offers data, software, and research products and services. The company has a P/E ratio of 35.4, equal to the average computer software & services industry P/E ratio and above the S&P 500 P/E ratio of 16.7.

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TheStreet Ratings rates Morningstar as a

buy

. The company's strengths can be seen in multiple areas, such as its largely solid financial position with reasonable debt levels by most measures, robust revenue growth, growth in earnings per share, increase in net income and expanding profit margins. We feel these strengths outweigh the fact that the company is trading at a premium valuation based on our review of its current price compared to such things as earnings and book value. You can view the full

Morningstar Ratings Report

.

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