If we remember that administer means “to manage or be responsible for” then a following analogy makes clear women should be able to participate in the sacrament by preparing and passing it:
Just as a CEO is an administrator and manages and is responsible for the company with men and women working together to run the company, the priests should administer the sacrament by managing it, being responsible for it, and blessing the sacrament, with men and women working together under the priests see the sacrament is available to the members partake.
Let Women Prepare Sacrament 