One way of doing this is with the Invoke-VMScript cmdlet.
I assume that you have all the VMs where you need to change the administrator password in the variable $vms.
I also assume that your account has admin authority on all the guest OS.
Then you could do something like this
$script=@"
$localadministrator=[adsi]("WinNT://./administrator, user")
$localadministrator.psbase.invoke("SetPassword", "your-new-password")
"@
foreach($vmin$vms){
Invoke-VMScript-ScriptText$script-VM$vm
}