SECURITIES AND EXCHANGE COMMISSION
                              WASHINGTON, DC 20549

                                  SCHEDULE 13G
                                 (Rule 13d-102)


             INFORMATION TO BE INCLUDED IN STATEMENTS FILED PURSUANT
           TO RULES 13d-1(b)(c), AND (d) AND AMENDMENTS THERETO FILED
                           PURSUANT TO RULE 13d-2(b)

                         (Amendment No.____________)(1)


                             Hurco Companies, Inc.
--------------------------------------------------------------------------------
                                (Name of Issuer)


                                 Common stock
--------------------------------------------------------------------------------
                         (Title of Class of Securities)


                                   447324104
--------------------------------------------------------------------------------
                                 (CUSIP Number)


                               January 15, 2003
--------------------------------------------------------------------------------
            (Date of Event Which Requires Filing of this Statement)


     Check the appropriate box to designate the rule pursuant to which this
Schedule is filed:

          [x]  Rule 13d-1(b)

          [_]  Rule 13d-1(c)

          [_]  Rule 13d-1(d)


----------
(1)  The remainder of this cover page shall be filled out for a reporting
     person's initial filing on this form with respect to the subject class of
     securities, and for any subsequent amendment containing information which
     would alter the disclosures provided in a prior cover page.

     The information required in the remainder of this cover page shall not be
deemed to be "filed" for the purpose of Section 18 of the Securities Exchange
Act of 1934 or otherwise subject to the liabilities of that section of the Act
but shall be subject to all other provisions of the Act (however, see the
Notes).




CUSIP No.447324104                  13G                    Page 2 of 5 Pages


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1.   NAME OF REPORTING PERSONS
     I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)


           Bridgeway Capital Management, Inc.   76-0409332
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2.   CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
                                                                 (a)  [_]
                                                                 (b)  [_]

--------------------------------------------------------------------------------
3.   SEC USE ONLY


      Houston, TX
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4.   CITIZENSHIP OR PLACE OF ORGANIZATION


     USA
--------------------------------------------------------------------------------
  NUMBER OF    5.   SOLE VOTING POWER

   SHARES           549,900.0
               -----------------------------------------------------------------
BENEFICIALLY   6.   SHARED VOTING POWER

  OWNED BY          549,900.0
               -----------------------------------------------------------------
    EACH       7.   SOLE DISPOSITIVE POWER

  REPORTING
               -----------------------------------------------------------------
   PERSON      8.   SHARED DISPOSITIVE POWER

    WITH            549,900.0
________________________________________________________________________________
9.   AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON



--------------------------------------------------------------------------------
10.  CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*

                                                                          [X]

--------------------------------------------------------------------------------
11.  PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9


     9.85%
--------------------------------------------------------------------------------
12.  TYPE OF REPORTING PERSON*


    IA
--------------------------------------------------------------------------------
                     *SEE INSTRUCTIONS BEFORE FILLING OUT!


CUSIP No.447324104                  13G                    Page 3 of 5 Pages


Item 1(a).  Name of Issuer:


            Hurco Companies, Inc.
            --------------------------------------------------------------------

Item 1(b).  Address of Issuer's Principal Executive Offices:

            One Technology Way
            Indianapolis, Indiana   46268
            --------------------------------------------------------------------

Item 2(a).  Name of Person Filing:


            Bridgeway Capital Management, Inc.
            --------------------------------------------------------------------

Item 2(b).  Address of Principal Business Office, or if None, Residence:

            5615 Kirby Drive, Suite 518
            Houston, TX  77005-2448
            --------------------------------------------------------------------

Item 2(c).  Citizenship:



            --------------------------------------------------------------------

Item 2(d).  Title of Class of Securities:


            Common Stock
            --------------------------------------------------------------------

Item 2(e).  CUSIP Number:


            447324104
            --------------------------------------------------------------------

Item        3. If This Statement is Filed Pursuant to Rule 13d-1(b), or
            13d-2(b) or (c), Check Whether the Person Filing is a:

     (a)  [_]  Broker or dealer registered under Section 15 of the Exchange Act.

     (b)  [_]  Bank as defined in Section 3(a)(6) of the Exchange Act.

     (c)  [_]  Insurance  company as defined in Section 3(a)(19) of the Exchange
               Act.

     (d)  [_]  Investment  company  registered under Section 8 of the Investment
               Company Act.

     (e)  [X]  An investment adviser in accordance with Rule 13d-1(b)(1)(ii)(E);

     (f)  [_]  An employee  benefit plan or endowment  fund in  accordance  with
               Rule 13d-1(b)(1)(ii)(F);

     (g)  [_]  A parent  holding  company or control  person in accordance  with
               Rule 13d-1(b)(1)(ii)(G);

     (h)  [_]  A savings  association  as defined in Section 3(b) of the Federal
               Deposit Insurance Act;

     (i)       [_] A church plan that is excluded from the definition of an
               investment company under Section 3(c)(14) of the Investment
               Company Act;

     (j)  [_]  Group, in accordance with Rule 13d-1(b)(1)(ii)(J).


CUSIP No.447324104                  13G                    Page 4 of 5 Pages

Item 4.  Ownership.

     Provide the following information regarding the aggregate number and
percentage of the class of securities of the issuer identified in Item 1.

     (a)  Amount beneficially owned:
          549,900.0
          ----------------------------------------------------------------------

     (b)  Percent of class:
          9.85%
          ----------------------------------------------------------------------

     (c)  Number of shares as to which such person has:

         (i)   Sole power to vote or to direct the vote                       0

         (ii)  Shared power to vote or to direct the vote               549,900

         (iii) Sole power to dispose or to direct the disposition of          0

         (iv)  Shared power to dispose or to direct the disposition of  549,900


Item 5.  Ownership of Five Percent or Less of a Class.

     If this statement is being filed to report the fact that as of the date
hereof the reporting person has ceased to be the beneficial owner of more than
five percent of the class of securities check the following [ ].

              N/A
         -----------------------------------------------------------------------

Item 6.  Ownership of More Than Five Percent on Behalf of Another Person.


              N/A
         -----------------------------------------------------------------------

Item     7. Identification and Classification of the Subsidiary Which Acquired
         the Security Being Reported on by the Parent Holding Company or
         Control Person.

              N/A
         -----------------------------------------------------------------------

Item 8.  Identification  and  Classification  of Members of the Group.

              N/A
         -----------------------------------------------------------------------

Item 9.  Notice of Dissolution of Group.

              N/A
          ----------------------------------------------------------------------

Item 10.  Certifications.

     (a)  The following certification shall be included if the statement is
          filed pursuant to Rule 13d-1(b):

          "By signing below I certify that, to the best of my knowledge and
          belief, the securities referred to above were acquired and are held
          in the ordinary course of business and were not acquired and not held
          for the purpose of or with the effect of changing or influencing the
          control of the issuer of the securities and were not acquired and are
          not held in connection with or as a participant in any transaction
          having such purpose or effect."




CUSIP No.447324104                  13G                    Page 5 of 5 Pages


                                   SIGNATURE

     After reasonable inquiry and to the best of my knowledge and belief, I
certify that the information set forth in this statement is true, complete and
correct.


                                                   January 24, 2003
                                        ----------------------------------------
                                                        (Date)


                                                  /s/ MICHAEL D. MULCAHY
                                        ----------------------------------------
                                                      (Signature)

                                                      Michael D. Mulcahy
                                                       Secretary
                                        ----------------------------------------
                                                      (Name/Title)



Note. Schedules filed in paper format shall include a signed original and five
copies of the schedule, including all exhibits. See Rule 13d-7 for other
parties for whom copies are to be sent.

Attention.  Intentional  misstatements  or omissions of fact constitute  federal
criminal violations (see 18 U.S.C. 1001).