Anyone having any issues with the newest version of Hangouts?

This might not be a Moto X issue, but I was running the same version of the same app on my Nexus 5 with no problem. After updating to the newest version of Hangouts, which I use for SMS, the app runs terribly slow. Typing a message is painfully slow, and often the autocorrect doesn't keep up with my typing and becomes useless. Scrolling through messages is laggy. Sometimes when I first open the app to respond to a message it starts off running fine but then within a few seconds of typing slows down again.

I've tried removing the update, gong back to the version that came preinstalled, clearing data etc. and nothing seems to help. I can of course just use a different app for texting but I'd really like to know what's causing the problem an if anyone else is having it.