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Terry Smith sells Sage shares. Here’s what I’m doing


first_img I’m sure you’ll agree that’s quite the statement from Motley Fool Co-Founder Tom Gardner.But since our US analyst team first recommended shares in this unique tech stock back in 2016, the value has soared.What’s more, we firmly believe there’s still plenty of upside in its future. In fact, even throughout the current coronavirus crisis, its performance has been beating Wall St expectations.And right now, we’re giving you a chance to discover exactly what has got our analysts all fired up about this niche industry phenomenon, in our FREE special report, A Top US Share From The Motley Fool. Enter Your Email Address Renowned stock-picker Mark Rogers and his analyst team at The Motley Fool UK have named 6 shares that they believe UK investors should consider buying NOW.So if you’re looking for more stock ideas to try and best position your portfolio today, then it might be a good day for you. Because we’re offering a full 33% off your first year of membership to our flagship share-tipping service, backed by our ‘no quibbles’ 30-day subscription fee refund guarantee. Image source: Getty Images Nadia Yaqub has no position in any of the shares mentioned. The Motley Fool UK has recommended Sage Group. Views expressed on the companies mentioned in this article are those of the writer and therefore may differ from the official recommendations we make in our subscription services such as Share Advisor, Hidden Winners and Pro. Here at The Motley Fool we believe that considering a diverse range of insights makes us better investors. Click here to claim your copy now — and we’ll tell you the name of this Top US Share… free of charge! Simply click below to discover how you can take advantage of this. Terry Smith sells Sage shares. Here’s what I’m doingcenter_img “This Stock Could Be Like Buying Amazon in 1997” Terry Smith in one the UK’s highest-profile fund managers. But according to the website of his asset management firm Fundsmith, he has sold his holding of  accountancy software specialist Sage (LSE: SGE) shares.Smith held the software company in his flagship global portfolio, Fundsmith Equity Fund. The factsheet for May 2021, indicates that the fund manager completed the sale of his stake last month. There was no other comment on the disposal.5G is here – and shares of this ‘sleeping giant’ could be a great way for you to potentially profit!According to one leading industry firm, the 5G boom could create a global industry worth US$12.3 TRILLION out of thin air…And if you click here we’ll show you something that could be key to unlocking 5G’s full potential…Why did he sell?I reckon Smith may have lost his patience with the FTSE 100 stock. After all, it’s undergoing a turnaround. The company is converting to offering cloud-based software via a subscription model. This makes commercial sense. In my view, recurring revenue is always a good thing as it offers sales visibility and transparency.In Smith’s latest annual letter to shareholders in January, Sage was among the top five losers within the fund. The stock delivered a -0.6% return last year.He even mentioned that “Sage’s share price remains in the doldrums as we wait to see whether the new management team can make the product fit for purpose in the age of the cloud and subscription software and compete effectively with those who can”.I guess Smith wasn’t impressed by the company’s recent interim results. Sage delivered organic recurring revenue growth of 4.4% during the six-month period.My viewI disagree with the fund manager’s sale of Sage shares. I actually think now is a buying opportunity. But I must admit that investors like me will have to be patient with the firm’s turnaround. Unfortunately, this can’t happen overnight.I believe the company is taking the right steps. It’s selling its non-core businesses, which in turn has boosted the strength of its balance sheet. The board expects “organic recurring revenue growth for FY21 to be towards the top end of our guidance range of 3% to 5%”.So far, I’m pleased with the path the firm is taking. The phrase “short-term pain for long-term gain” springs to mind. And I think this is true for Sage.Other investorsWhile Smith, may not be bullish on Sage shares, there are other high-profile UK investors who are. Nick Train, the investment brain behind the Finsbury Growth & Income Trust, still likes the stock.In fact, according to the investment trust’s April 2021 factsheet, he still owns it. Sage accounts for 5.1% of his portfolio. To me, that shows that Train still has a strong amount of conviction in the company.But it’s worth noting that he did say in the trust’s recent interim results that “we have had to be patient with our investment in Sage, as the company sacrifices short-term profitability to invest in its cloud software services. We think there are signs Sage’s investment is paying off, but other investors evidently need more certainty”.RisksThe stock does come with risks. As I mentioned, the turnaround is likely to take time and investors will have to wait and see. There’s also no guarantee that it will be successful.As Train highlighted, the transition has taken its toll on profitability in the short term, which may impact the stock.But for now, as a long-term investor, I’d buy Sage shares Nadia Yaqub | Tuesday, 8th June, 2021 | More on: SGE I would like to receive emails from you about product information and offers from The Fool and its business partners. 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