I believe that the above would be executed each tick, therefore you really should consider adding a "Every X seconds" condition to the event.
Something like 0.05 should do nicely (done 20 times per second).
Also, if you'd like something more complicated (with the paddle accelerating, instead of merely moving), you could try a custom movement behaviour and compare the axial speed and coordinates, if speed towards the needed point is below the maximum allowed, then add acceleration to the paddle towards it every x seconds.