Shares of Twilio (NYSE: TWLO) were moving higher today after The Information reported that an activist investor was pushing for changes in the board, inspiring hopes for a recovery in the sagging software-as-a-service (SaaS) stock.

As a result, the stock was up 8.7% as of 1:48 p.m. ET.

This morning, The Information reported that activist investor Legion Partners has met several times with the board of directors and management, calling on them to make changes to the board and make moves, including divestitures in order to improve the company's profitability and boost the stock price.

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Source Fool.com