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Sorry to break it to ya, but its got to do with the phone heating up after the screen is on more then 5 minutes straight. The touch screen goes haywire when its hot, thats why your cursor jumps. Its a software defect in the kitkat version and more likely is not going to be solved.
Did the keyboard work in other apps other than the default messaging app? I cant use the screen at all when this happens, its jerky and wont work in ANY app. On my phone as soon as this starts i have to reset it by pressing the on button and volume key down at the same time until it vibrates three times. (hard reset)
It will be ok until the next screen heat up.
Sony phones **bleep** so bad 
Do you have a screen protector?
Sorry to break it to ya, but its got to do with the phone heating up after the screen is on more then 5 minutes straight. The touch screen goes haywire when its hot, thats why your cursor jumps. Its a software defect in the kitkat version and more likely is not going to be solved.
Did the keyboard work in other apps other than the default messaging app? I cant use the screen at all when this happens, its jerky and wont work in ANY app. On my phone as soon as this starts i have to reset it by pressing the on button and volume key down at the same time until it vibrates three times. (hard reset)
It will be ok until the next screen heat up.
Sony phones **bleep** so bad 
Yes,i have a screen protector nicely and tightly stuck on the screen.
It might be related to that but I won't tell you to remove it if you don't want.
That's a bit wierd.
You can try entering Settings / About phone (last option) / Diagnostics / Test Device / Touch Screen. Try if it paints yellow line where you touch or goes around.
You may also download Multitouch Test app ( https://play.google.com/store/apps/details?id=multitouchpro.tests ) from Play Store and try if the touch is properly recognised.
If not, it may (or may not) be related to the third-party screen protector that causes the trouble. If you are sure that clearing keyboard data, restoring firmware via PC Companion (beware it will delete all your settings, messages, game results) it's the last option you can check yourself.
In mine this happens when the screen gets dirty... so I just give it a good clean and problem solved