NEW YORK ( TheStreet) -- Morningstar (Nasdaq: MORN) hit a new 52-week high Thursday as it traded at $56.41 compared with its previous 52-Week high of $56.33. Morningstar is changing hands at $56.30 with 16,463 shares traded as of 10:26 a.m. ET. Average volume has been 66,100 shares over the past 30 days. Morningstar has a market cap of $2.8 billion and is part of the technology sector and computer software & services industry. Shares are up 4.7% year to date as of the close of trading on Wednesday.

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 38.3, above the average computer software & services industry P/E ratio of 38.1 and above the S&P 500 P/E ratio of 23.3.

TheStreet Ratings rates Morningstar as a buy. The company's strengths can be seen in multiple areas, such as its revenue growth, largely solid financial position with reasonable debt levels by most measures, expanding profit margins and increase in stock price during the past year. We feel these strengths outweigh the fact that the company has had somewhat weak growth in earnings per share. You can view the full Morningstar Ratings Report.

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