Workday, the human-resources software company launched by PeopleSoft founder Dave Duffield, boosted the amount sought in its initial public offering to $546 million from $400 million. The deal could be the hottest technology IPO of the fourth quarter.

The Pleasanton, Calif., company now plans to sell 22.75 million shares priced between $21 and $24, boosting the price from what it said in a filing with the U.S. Securities and Exchange Commission. That’s up from $18 to $21 in its earlier filing.

Workday’s IPO filing followed the Aug. 27 announcement that International Business Machines Corp. (NYSE: IBM) would acquire rival Kenexa Corp. (Nasdaq: KNXA) of Wayne, Pa., for $1.6 billion.

Duffield’s first company, PeopleSoft, was a pioneer in the sector and was taken over by Oracle (Nasdaq: ORCL), the No. 1 database developer, after a bitter battle and paying shareholders $11.1 billion. Subsequently, Oracle acquired other HR software developers, including RightNow Technologies and Taleo Corp.

Duffield, 71, used the money to seed Workday, of Pleasanton, Calif., and now owns 73.5 million shares as its biggest shareholder. Co-CEO Aneel Bhusri, 46, with 27.4 million shares, is the second-largest shareholder, the filing showed.

After the IPO, Workday would have about 160.3 million shares outstanding, which would value the company at around $3.6 billion, before over-allotment options, which could boost its value to $3.9 billion.

Workday said its principal underwriters are Morgan Stanley (NYSE: MS) and Goldman Sachs (NYSE: GS).

For the six months ended July 31, Workday reported its net loss widened to $47.3 million, or $1.40 per share, from $36.3 million, or $1.27 a year earlier, although revenue more than doubled to $119.5 million. The company has a blue-chip list of customers including Lenovo Group (Pink: LNVGY), the No. 2 PC maker; Kimberly Clark Corp. (NYSE: KMB) and Equifax Inc. (NYSE: EFX).

Unlike the second quarter’s controversial IPO of Facebook (Nasdaq: FB), the No. 1 social networking site, insiders aren’t planning to sell any shares in the deal. That includes both Duffield and Bhusri, as well as venture capital backers Greylock Partners, owner of 15.2 million shares, and New Enterprise Associates, with 13.9 million shares.

Workday took advantage of a new loophole in the Jumpstart Our Business Startup, or JOBS, Act of 2012 that removed certain barriers from “emerging” companies to mount IPO because the companies create new jobs. It made its first filing on Aug. 31 and the latest one Monday, which could mean it will be approved by mid-October.

Facebook’s IPO, filed on Feb. 1, wasn’t completed until May 17, with first trading in the shares on May 18. Facebook shares traded at $22.84 on Monday, about 41 percent below their IPO price.