Tech Industry

Compuware crumbles on downgrade

Compuware (Nasdaq: CPWR) crumbled 12 percent Thursday following a downgrade from Donaldson, Lufkin & Jenrette.

Shares in the business software maker were down 2 15/16 to 24 5/16, or 10 percent, having recovered slightly from the morning's low of 23 5/8.

In February, the stock had gained after bullish coverage from an analyst, and the completion of its acquisition of BlairLake, which it said will enhance its e-commerce capabilities.

Donaldson, Lufkin & Jenrette said analyst Joseph Farley cut his rating on the stock Thursday to "market Performance" from "buy." He also trimmed his price target to $30 from $40.

Further details of the downgrade were not immediately available.

Compuware competes with Oracle (Nasdaq: ORCL) Computer Associates (NYSE: CA) and BMC Software (Nasdaq: BMCS).

Reuters contributed to this report.