FactSet Research Systems Inc

These names are among the most expensive in our coverage universe.

Morningstar’s new paper advances the analysis.

Despite slowing growth, margin contraction, and headwinds from weaker buy-side customer demand, the market continues to award FactSet with a higher multiple.

These high-quality mid- and small-cap companies are trading well above our fair value estimates.

The wide-moat firm will only be able to achieve growth of 5%-5.5% over the next two fiscal years.

Our coverage list has improved, and here are the highlights.