Activist Investor Elliott Is Said to Build Stake in Citrix

Elliott Investment Management has taken a stake of more than 10% in workplace software maker Citrix Systems Inc., according to a person familiar with the matter.

Elliott is seeking action by Citrix to reverse its stock decline, said the person, who asked not to be identified because the matter was private. Shares of the company, based in Fort Lauderdale, Florida, have fallen 20% this year, giving the company a market value of about $13 billion.

A representative for Elliott declined to comment. A spokesperson for Citrix didn’t immediately respond to a request for comment. Elliott’s stake in Citrix was ...