BEA Systems, Inc. (NDAQ:BEAS) moved higher today on renewed speculation that the company could be a takeover target. Suntrust analysts said today that Hewlet-Packard Co. (NYSE:HPQ) could buy the company. Despite the fact that the stock has a PEG of 1.65 (above the industry average 1.39) and trades well above enterprise value, buyout rumors continue to surround the enterprise software provider.

Past speculation has centered around a deal with Oracle Corporation (NDAQ:ORCL), which is perhaps one of the most logical suitors. BEA's market cap of just over $5 billion represents only 5.4% of Oracle's market cap, while the acquisition would add new product lines and synergistic customers to Oracle's existing infrastructure. Moreover, we already know that Oracle is not adverse to buying companies, after their laundry list of recent acquisitions.  Either way, BEA is definitely a stock to keep an eye on as the possibility of a buyout remains.

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