First code

main.lua

local w,h = display.contentWidth, display.contentHeight

local rec_width = 200
local rec_height = 100
local btnText = "Press me"

local rect1 = display.newRect((w-rec_width)/2, (h-rec_height)/2, rec_width, rec_height )
local text = display.newText(btnText, w/2, h/2, native.systemFont, 30)
text:setTextColor(100, 100, 100)

function setRectBack( event )
	text.text = "Run away"
	transition.to( rect1, { time=500, x=(w)/2, y=(h)/2} )
	transition.to( text, { time=500, x=(w)/2, y=(h)/2, onComplete = endMove} )
end

function endMove( )
	text.text = btnText
end

function eventphase( event )
	if event.phase == "began" then
		text.text = "began"
	end

	if event.phase == "moved" then
		text.text = "moved"
	end

	if event.phase == "ended" then
		text.text = "ended"
		tmr = timer.performWithDelay(1000, setRectBack, 1)
	end

	rect1.x = event.x
	rect1.y = event.y

	text.x = event.x
	text.y = event.y
end

rect1:addEventListener("touch", eventphase)