Along the IP Address change the VMs had to be moved to a new PortGroup.
Doing it manually can be pretty tiresome and boring. The PowerCLI is a perfect option for this task as it relies on leveraging of VMware Tools. Therefore, loosing network connectivity to the VM due to the IP Address change or after the VM is moved to another Portgroup won't impact the functionality of the script.
Prior running the script you will need to prepare the CSV file with the list of VMs to be updated and the following information for each VM: ServerName, Username, Password, NewPortgroup, OrigIP, NewIP, NewMask, NewGateway
Here is how my Inventory.csv file looks like.
When running the script you will need to provide the path to CSV file and the name of your vCenter
ChangeIP.ps1 -Inventory c:\Scripts\inventory.csv - VC lab-vc-01.lab.local
And here is the script text. Hopefully there are enough comments to help you read the script so that you could adjust it to your needs.