What is this doughnut shaped bump around my relatively new piercing?

I got my piercing about 6-7 weeks ago..and I have recently noticed a doughnut shaped hard bump around my tongue ring. There is no discoloration or pus so I don't think its infected. I clean my tongue ring regularly with mouth was (Listerine) and I am not too worried about it...it mostly hurts when I wake up. If you do have any experience or knowledge addressing my problem it would b greatly appreciated.