A recent Bloomberg article reported that Concur Technologies (NASDAQ: CNQR) had enlisted the aid of a major investment bank to explore the possible sale of the company. The article stated that Concur had approached both Oracle and SAP, in addition to other technology companies. Concur is a leading provider of cloud-based travel and expense management software for businesses of all sizes. Some firms on Wall Street think it is a good fit for both Oracle and SAP.

The big question for investors is one that may surround the entire software as a service (SaaS) and enterprise software business segment. Is it time for some of the smaller, more agile companies that are niche specific like Concur to end up as targets for bigger companies looking to add additional silos of products to their current offerings? The analysts at FBR think the trend of mergers and acquisitions (M&A) likely will pick up going forward. We screened the sector for stocks that could be potential candidates.

Citrix Systems Inc. (NASDAQ: CTXS) is considered a top-rated stock to buy at almost every Wall Street firm that we cover. IBM’s software unit missed earnings badly last year and Citrix is poised to grab business in this arena. By reason, investors could consider that Big Blue may be keeping an eye on the company, looking to strengthen existing business while eliminating a very formidable contender in the space. The Thomson/First Call price target for the stock is $68.48. The stock closed above that Wednesday at $70.67. Be advised that Citrix has been considered a potential tech buyout target for years, and many other suitors have been speculated about in the past.

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Red Hat Inc. (NYSE: RHT) provides open source software solutions primarily to enterprise customers worldwide. The company develops and offers operating system, middleware, virtualization, storage and cloud technologies. The stock remains a favorite of CNBC’s Jim Cramer, and it is expected to show strong sales gains the rest of this year. That growth could prove attractive to anybody, from an IBM to Microsoft, looking to add or enhance offerings in the space. The consensus price target is $66.14. The former high-flyer closed Wednesday at $61.52.

Salesforce.com Inc. (NYSE: CRM) has been the momentum stock trader’s dream over the past few years. Many analysts on Wall Street feel that while the stock trades in line with its fast organic SaaS peer group, they believe the company should trade at a premium to the group owing to its dominant positioning in the powerful cloud, mobile and social computing waves, larger revenue run-rate compared to the group average, stronger cash generation and its TAM, which is substantially larger than the peer group average.

This might make Salesforce a good acquisition target for a large enterprise player like Oracle, SAP or perhaps even somebody like Microsoft, looking to make a big enterprise splash. A large company may be needed with very deep pockets as Salesforce current market cap is at $36.6 billion and the purchase price could be much more. The consensus price target is $69.06. Shares closed Wednesday at $59.03.

The Ultimate Software Group Inc. (NASDAQ: ULTI) is a leading cloud provider of people management solutions with more than 15 million people’s records in the cloud. Ultimate’s award-winning UltiPro delivers HR, payroll, talent, compensation and time and labor management solutions that seamlessly connect people with the information and resources they need to work more effectively. The stock could actually be a consolidation play for another enterprise company looking to add its silo of products, or a scenario where Ultimate makes the play. The consensus price target is $155.82, and shares closed Wednesday at $147.68.

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Workday Inc. (NYSE: WDAY) has done nothing but go up since its IPO in the fall of 2012. After peaking at more than $115 in late February, the stock got hammered in the spring when the biotechs and other momentum names were taken to the woodshed. In fact, the stock is still off almost 20% from its high print and may be offering companies looking to make a bid a good purchase point. Adding Workday’s market potential of big data, recruiting, student, and financial management applications could bolster the portfolio of current enterprise players or be a strong silo for a mega-cap looking to add on. The consensus price target is $102.95. The stock closed Wednesday at $88.60.

Ellie Mae Inc. (NYSE: ELLI) may sound like a character from the “Beverly Hillbillies,” but the company is actually a leader in providing on-demand software solutions and services for the residential mortgage industry in the United States. Its mortgage management solutions streamline and automate the process of originating and funding new mortgage loans, facilitating regulatory compliance and reducing documentation errors.

With the growth in the mortgage industry rebounding after the market crashed more than five years ago, the demand for Ellie Mae’s products have soared as lenders and originators cope with new rules and regulations. This may be a good fit for a giant mortgage player such as Wells Fargo. The consensus price target is $34.67. The stock closed on Wednesday at $34.35.

Exa Corp. (NASDAQ: EXA) develops, sells and supports simulation software and services to enhance product performance, reduce product development costs and improve the efficiency of design and engineering processes. Its simulation solutions enable customers to gain crucial insights about design performance early in the design cycle, thus reducing the likelihood of expensive redesigns and late-stage engineering changes. While very specific, the company could be a fit for an industry peer like Dassault. The consensus price target is $15.38. Shares closed at $12.25.

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The explosion in cloud and enterprise software will spark consolidation as fast-growing industries almost always do. With mega caps looking to add to their slowing businesses and strong leaders within the sector looking to eliminate competition, the team at FBR may be right that the balance of the year could bring more deals and deal talk.

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