Workday (NYSE: WDAY), the human-resources software company launched by PeopleSoft founder Dave Duffield, boosted the amount sought in its initial public offering to $590 million from $546 million. The deal could be the hottest technology IPO of the fourth quarter.

It’s the second time the Pleasanton, Calif., company has boosted the amount it plans to raise since filing for its IPO on Aug. 30. The company may conduct the IPO on Thursday, with first public trading to start on Friday.

The company now plans to sell 22.75 million shares priced between $24 and $26, it said in a filing with the U.S. Securities and Exchange Commission. That’s up from $18 to $21 in its initial 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. He 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.

Workday after the IPO would have about 160.3 million shares outstanding, which would value the company around $4.16 billion, before over-allotment options, which could boost its value to $4.5 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 a share, from $36.3 million, or $1.27 a year earlier, although revenue more than doubled to $119.5 million.

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. 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 (JOBS) Startup 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 Tuesday, which could mean it will be approved soon.

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 $19.58 on Wednesday, about 50 percent below their IPO price.

Workday said it would trade on the New York Stock Exchange under the symbol WDAY.