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Unisys' Device Subscriptions Gains Traction: Is Momentum Building Up?

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Key Takeaways

  • UIS sees strong early traction from its Device Subscription Service, driving new contract signings.
  • Growth is backed by AI prep, Windows 11 refreshes and rising demand for field service infrastructure.
  • DSS enables cross-selling into high-margin areas and boosts IT service value through new tech alliances.

Unisys Corporation (UIS - Free Report) is seeing early success with its Device Subscription Service (DSS), a managed offering that is beginning to reshape the company’s Digital Workplace Solutions (DWS) segment. In the first quarter of fiscal 2025, DSS stood out as a bright spot, underpinning new contract wins and offering a path toward long-term growth.

DSS provides clients with an all-in-one subscription model for devices, bundling procurement, deployment, intelligent refresh cycles and support services. In the fiscal first quarter, the company reported increased field service volumes supported by higher-margin infrastructure demand. Looking ahead, management expects a ramp-up in PC refresh activity as clients prepare for AI integration and Windows 11 upgrades ahead of the Windows 10 end-of-life. This is likely to fuel additional product work, new signings for DSS and increased demand across field service areas such as imaging, distribution, device disposal and warranty restoration.

Unisys is also using DSS as an entry point to deepen customer relationships and expand into adjacent service areas. The company is witnessing cross-selling opportunities in high-margin offerings such as service desk, hybrid infrastructure management and endpoint security. Additionally, recent alliances with EasyVista and Freshworks are set to enhance Unisys’ IT service management capabilities, improving both time-to-value and customization for clients. As DSS deployments scale, these layered solutions likely pave a path for enhanced client stickiness and profitability.

With the backlog in the DWS segment growing at a double-digit pace year over year and major DSS contracts set to roll out over the next several quarters, Unisys appears well-positioned to drive sequential growth in the back half of 2025. Management expects DSS-driven field services to play a key role in that rebound, especially as new enterprise storage work and AI-enabling infrastructure start to gain traction.

UIS’ Price Performance, Valuation & Estimates

Unisys’ shares have declined 6.9% in the past three months against the industry’s rise of 0.2%. In the same time frame, other industry players like C3.ai, Inc. (AI - Free Report) , Dynatrace, Inc. (DT - Free Report) and Fujitsu Limited (FJTSY - Free Report) have gained 0.5%, 7.4% and 13.7%, respectively.

UIS Three-Month Price Performance

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UIS stock is currently trading at a discount. It is currently trading at a forward 12-month price-to-sales (P/S) multiple of 0.15X, well below the industry average of 18.47X, indicating an attractive investment opportunity. Then again, other industry players, such as C3.ai, Dynatrace and Fujitsu Limited have P/S ratios of 6.50X, 8.09X and 1.70X, respectively.

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The Zacks Consensus Estimate for Unisys’ 2025 earnings per share has been revised upward, increasing from 25 cents to 58 cents over the past 60 days. This upward trend indicates strong analyst confidence in the stock’s near-term prospects.

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The company is likely to report solid earnings, with projections indicating a 28.9% rise in 2025. Conversely, industry players like C3.ai, Dynatrace and Fujitsu Limited are likely to witness growth of 9.8%, 13.7% and 42.3%, respectively, year over year in 2025 earnings.

UIS currently sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.


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