Core Insights - Unisys Corporation (UIS) is experiencing early success with its Device Subscription Service (DSS), which is positively impacting its Digital Workplace Solutions (DWS) segment and contributing to new contract wins and long-term growth prospects [1][7] Group 1: Device Subscription Service (DSS) - DSS offers an all-in-one subscription model for devices, including procurement, deployment, intelligent refresh cycles, and support services, leading to increased field service volumes and higher-margin infrastructure demand [2] - Management anticipates a rise in PC refresh activity as clients prepare for AI integration and Windows 11 upgrades, which is expected to drive additional product work and new DSS signings [2][4] - DSS is being utilized to deepen customer relationships and expand into adjacent service areas, with cross-selling opportunities in high-margin offerings such as service desk and endpoint security [3] Group 2: Financial Performance and Market Position - Unisys' DWS segment backlog is growing at a double-digit rate year over year, positioning the company for sequential growth in the latter half of 2025, driven by DSS-related field services and new enterprise storage work [4] - Unisys shares have declined 6.9% over the past three months, contrasting with a 0.2% rise in the industry, while competitors like C3.ai, Dynatrace, and Fujitsu have seen gains [5][8] - The stock is currently trading at a forward price-to-sales (P/S) multiple of 0.15X, significantly below the industry average of 18.47X, indicating a potentially attractive investment opportunity [8] Group 3: Earnings Estimates and Growth Projections - The Zacks Consensus Estimate for Unisys' 2025 earnings per share has been revised upward from 25 cents to 58 cents over the past 60 days, reflecting strong analyst confidence [9] - Projections indicate a 28.9% rise in Unisys' earnings for 2025, while competitors are expected to grow at rates of 9.8%, 13.7%, and 42.3% respectively [11]