ADP completes spinoff of CDK Global

SHARE ADP completes spinoff of CDK Global

HOFFMAN ESTATES — Automatic Data Processing Inc., the payroll processor, said Wednesday that it has completed its spinoff of CDK Global Inc.

CDK, which provides technology and marketing services to auto dealers, will start trading on the Nasdaq stock exchange Wednesday. Its ticker symbol is “CDK.”

ADP, based in Roseland, New Jersey, said the spinoff will help it focus human resources services business.

As part of the spinoff, ADP shareholders received one share of CDK stock for every three shares of ADP stock they owned on Sept. 24.

CDK is based in Hoffman Estates.

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