Activist hedge fund Elliott Management Corp. has a more than $1 billion stake in Citrix Systems Inc. and wants the software company to take action to boost its lagging stock price, according to people familiar with the matter.

Elliott recently informed Citrix

it has a stake of more than 10% in the company and would like to work with it to improve its valuation, the people said. A stake of that size would be valued at around $1.3 billion, based on Citrix’s market value of nearly $13 billion as of Tuesday.

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