NEW YORK ( TheStreet) -- Morningstar (Nasdaq: MORN) hit a new 52-week high Thursday as it traded at $59.99 compared with its previous 52-Week high of $59.97. Morningstar is changing hands at $59.99 with 32,756 shares traded as of 12:06 p.m. ET. Average volume has been 68,400 shares over the past 30 days.

Morningstar has a market cap of $2.9 billion and is part of the technology sector and computer software & services industry. Shares are up 10.6% 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 33.8, equal to the average computer software & services industry P/E ratio and above the S&P 500 P/E ratio of 21.5.

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 has had somewhat disappointing return on equity. You can view the full Morningstar Ratings Report.

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