UPDATE: Morgan Stanley Downgrades Jive Software to Equal-Weight, Removes PT as Growth Continues to Slow

In a report published Wednesday, Morgan Stanley analyst Jennifer Swanson Lowe downgraded the rating on

from Overweight to Equal-Weight, and removed the $18.00 price target. In the report, Morgan Stanley noted, “Billings growth continued to slow in Q4, while the departure of a key leader adds a new risk and guidance calling for billings to accelerate in CY14 could prove ambitious. Expectations look low, but with the risk profile increasing, we think the stock will remain range-bound and downgrade the shares to Equal-weight.” Jive Software closed on Tuesday at $8.87.