diff --git a/.github/.OwlBot.lock.yaml b/.github/.OwlBot.lock.yaml
index 9351fdfb..53941094 100644
--- a/.github/.OwlBot.lock.yaml
+++ b/.github/.OwlBot.lock.yaml
@@ -13,4 +13,4 @@
 # limitations under the License.
 docker:
   image: gcr.io/cloud-devrel-public-resources/owlbot-java:latest
-  digest: sha256:387835a1375a0049ec44e02542c844302854c732d8291bdf8e472c0ff70a8f67
+  digest: sha256:e3746f84955528d0fe24bf2e4df89875d6ce5a036af01b9c326d61a38838523a
diff --git a/.github/workflows/approve-readme.yaml b/.github/workflows/approve-readme.yaml
index 1bb18232..f5fc7d51 100644
--- a/.github/workflows/approve-readme.yaml
+++ b/.github/workflows/approve-readme.yaml
@@ -21,7 +21,7 @@ jobs:
     runs-on: ubuntu-latest
     if: github.repository_owner == 'googleapis' && github.head_ref == 'autosynth-readme'
     steps:
-      - uses: actions/github-script@v5
+      - uses: actions/github-script@v6
         with:
           github-token: ${{secrets.YOSHI_APPROVER_TOKEN}}
           script: |
diff --git a/.github/workflows/auto-release.yaml b/.github/workflows/auto-release.yaml
index 18e23230..7a106d00 100644
--- a/.github/workflows/auto-release.yaml
+++ b/.github/workflows/auto-release.yaml
@@ -21,7 +21,7 @@ jobs:
     runs-on: ubuntu-latest
     if: contains(github.head_ref, 'release-please')
     steps:
-    - uses: actions/github-script@v5
+    - uses: actions/github-script@v6
       with:
         github-token: ${{secrets.YOSHI_APPROVER_TOKEN}}
         debug: true
diff --git a/.github/workflows/ci.yaml b/.github/workflows/ci.yaml
index 6b5e56aa..83ef7f9c 100644
--- a/.github/workflows/ci.yaml
+++ b/.github/workflows/ci.yaml
@@ -27,8 +27,8 @@ jobs:
       matrix:
         java: [8, 11, 17]
     steps:
-    - uses: actions/checkout@v2
-    - uses: actions/setup-java@v2
+    - uses: actions/checkout@v3
+    - uses: actions/setup-java@v3
       with:
         distribution: zulu
         java-version: ${{matrix.java}}
@@ -39,8 +39,8 @@ jobs:
   windows:
     runs-on: windows-latest
     steps:
-    - uses: actions/checkout@v2
-    - uses: actions/setup-java@v2
+    - uses: actions/checkout@v3
+    - uses: actions/setup-java@v3
       with:
         distribution: zulu
         java-version: 8
@@ -54,8 +54,8 @@ jobs:
       matrix:
         java: [8, 11, 17]
     steps:
-    - uses: actions/checkout@v2
-    - uses: actions/setup-java@v2
+    - uses: actions/checkout@v3
+    - uses: actions/setup-java@v3
       with:
         distribution: zulu
         java-version: ${{matrix.java}}
@@ -64,8 +64,8 @@ jobs:
   lint:
     runs-on: ubuntu-latest
     steps:
-    - uses: actions/checkout@v2
-    - uses: actions/setup-java@v2
+    - uses: actions/checkout@v3
+    - uses: actions/setup-java@v3
       with:
         distribution: zulu
         java-version: 11
@@ -76,8 +76,8 @@ jobs:
   clirr:
     runs-on: ubuntu-latest
     steps:
-    - uses: actions/checkout@v2
-    - uses: actions/setup-java@v2
+    - uses: actions/checkout@v3
+    - uses: actions/setup-java@v3
       with:
         distribution: zulu
         java-version: 8
diff --git a/CHANGELOG.md b/CHANGELOG.md
index b22bda47..6f0d1333 100644
--- a/CHANGELOG.md
+++ b/CHANGELOG.md
@@ -1,5 +1,12 @@
 # Changelog
 
+### [1.2.7](https://github.com/googleapis/java-iam/compare/v1.2.6...v1.2.7) (2022-03-02)
+
+
+### Dependencies
+
+* update dependency com.google.cloud:google-cloud-shared-dependencies to v2.8.0 ([#299](https://github.com/googleapis/java-iam/issues/299)) ([6cf3f84](https://github.com/googleapis/java-iam/commit/6cf3f841fff069816b02e40e98b4dc22ebfd06e5))
+
 ### [1.2.6](https://github.com/googleapis/java-iam/compare/v1.2.5...v1.2.6) (2022-03-01)
 
 
diff --git a/grpc-google-iam-v1/pom.xml b/grpc-google-iam-v1/pom.xml
index 2a26b453..3356ef8e 100644
--- a/grpc-google-iam-v1/pom.xml
+++ b/grpc-google-iam-v1/pom.xml
@@ -4,13 +4,13 @@
   <modelVersion>4.0.0</modelVersion>
   <groupId>com.google.api.grpc</groupId>
   <artifactId>grpc-google-iam-v1</artifactId>
-  <version>1.2.6</version><!-- {x-version-update:proto-google-iam-v1:current} -->
+  <version>1.2.7</version><!-- {x-version-update:proto-google-iam-v1:current} -->
   <name>grpc-google-iam-v1</name>
   <description>GRPC library for grpc-google-iam-v1</description>
   <parent>
     <groupId>com.google.cloud</groupId>
     <artifactId>google-iam-parent</artifactId>
-    <version>1.2.6</version><!-- {x-version-update:proto-google-iam-v1:current} -->
+    <version>1.2.7</version><!-- {x-version-update:proto-google-iam-v1:current} -->
   </parent>
   <dependencies>
     <dependency>
diff --git a/pom.xml b/pom.xml
index 03572875..068b737e 100644
--- a/pom.xml
+++ b/pom.xml
@@ -4,7 +4,7 @@
   <groupId>com.google.cloud</groupId>
   <artifactId>google-iam-parent</artifactId>
   <packaging>pom</packaging>
-  <version>1.2.6</version><!-- {x-version-update:proto-google-iam-v1:current} -->
+  <version>1.2.7</version><!-- {x-version-update:proto-google-iam-v1:current} -->
   <name>Google IAM Parent</name>
   <url>https://github.com/googleapis/java-iam</url>
   <description>
@@ -70,14 +70,14 @@
       <dependency>
         <groupId>com.google.cloud</groupId>
         <artifactId>google-cloud-shared-dependencies</artifactId>
-        <version>2.7.0</version>
+        <version>2.8.0</version>
         <type>pom</type>
         <scope>import</scope>
       </dependency>
       <dependency>
         <groupId>com.google.api.grpc</groupId>
         <artifactId>proto-google-iam-v1</artifactId>
-        <version>1.2.6</version><!-- {x-version-update:proto-google-iam-v1:current} -->
+        <version>1.2.7</version><!-- {x-version-update:proto-google-iam-v1:current} -->
       </dependency>
 
       <dependency>
diff --git a/proto-google-iam-v1/pom.xml b/proto-google-iam-v1/pom.xml
index 281378d5..180f2ef3 100644
--- a/proto-google-iam-v1/pom.xml
+++ b/proto-google-iam-v1/pom.xml
@@ -3,13 +3,13 @@
   <modelVersion>4.0.0</modelVersion>
   <groupId>com.google.api.grpc</groupId>
   <artifactId>proto-google-iam-v1</artifactId>
-  <version>1.2.6</version><!-- {x-version-update:proto-google-iam-v1:current} -->
+  <version>1.2.7</version><!-- {x-version-update:proto-google-iam-v1:current} -->
   <name>proto-google-iam-v1</name>
   <description>PROTO library for proto-google-iam-v1</description>
   <parent>
     <groupId>com.google.cloud</groupId>
     <artifactId>google-iam-parent</artifactId>
-    <version>1.2.6</version><!-- {x-version-update:proto-google-iam-v1:current} -->
+    <version>1.2.7</version><!-- {x-version-update:proto-google-iam-v1:current} -->
   </parent>
   <dependencies>
     <dependency>
diff --git a/versions.txt b/versions.txt
index aa6f79d3..30af4a04 100644
--- a/versions.txt
+++ b/versions.txt
@@ -1,5 +1,5 @@
 # Format:
 # module:released-version:current-version
 
-proto-google-iam-v1:1.2.6:1.2.6
-grpc-google-iam-v1:1.2.6:1.2.6
+proto-google-iam-v1:1.2.7:1.2.7
+grpc-google-iam-v1:1.2.7:1.2.7