While the Moto X Play was announced nearly two years ago and shipped with Android 5.1.1 Lollipop, Lenovo isn't done supporting it with major feature updates. The company is pushing out new software today, which includes Android 7.1.1 Nougat.
The update includes the latest security patches, which is from May 1, 2017. The update itself is quite impressive considering what other companies are doing (and the device's age). Samsung is still rolling out Android 7.0 Nougat, and on some devices, that's being bundled with the March security patches. HTC is also still working on getting 7.0 out, but to make matters worse, its updates come with the February patches.
As of Google's latest Android usage breakdown, which was a month ago, just 7.1% of Google Play devices are running Nougat, but only 0.5% are on 7.1.x. Android 7.1.1 still isn't the latest version; that title belongs to 7.1.2, which only seems to be available on Nexus and Pixel devices at the moment.
Aside from Android 7.1.1 Nougat and the May security patches, the announcement cites stability improvements and Duo video calling as being part of today's update.