Peterborough United
Boyd made his debut for Peterborough United in a 3–1 defeat away to Darlington on 13 January 2007, and scored his first goal for the club a month later, in a 3–0 victory against Wrexham on 10 February 2007. He came off the substitutes' bench to score Peterborough's equaliser in a 1–1 draw at home to Boston United, a "superb 35-yard volley". He scored six times for the club during the second half of the 2006–07 season, making 20 appearances, including two goals on the final day of the season in a 3–3 draw with Rochdale. The following season, Boyd was a regular in the team as Peterborough secured promotion to League One, scoring 15 times in 53 appearances. During the season, he registered his second professional hat-trick in an 8–2 win over Accrington Stanley, and was subsequently named in the League Two PFA Team of the Year for the 2007–08 season. He scored 10 times in 53 matches in all competitions during the 2008–09 season, as Peterborough achieved back-to-back promotions to the Championship. Boyd was named in the League One PFA Team of the Year for the second consecutive season.
Boyd played in Peterborough's opening match of the 2009–10 season, marking his first appearance in the second tier of English football, and scored from the penalty spot in a 2–1 defeat to Derby County at Pride Park. Boyd made a club record-equalling 124th consecutive appearance on 17 October 2009, scoring a last-minute equaliser against Bristol City at Ashton Gate. He subsequently broke the record three days later in a match against Doncaster Rovers, before scoring twice in the following match against Scunthorpe United. Following the appointment of Mark Cooper as manager, Boyd was made team captain in January 2010. Peterborough stated that they had rejected a transfer bid for Boyd from fellow Championship club Middlesbrough during the January transfer window. The following day, Peterborough United director of football Barry Fry confirmed that Middlesbrough were in transfer negotiations for Boyd, although the two clubs ultimately failed to agree a fee. Boyd scored 12 goals in 37 appearances during the 2009–10 season.
After Boyd's proposed move to Middlesbrough fell through, he joined fellow Championship club Nottingham Forest on loan on 2 March 2010, in an agreement lasting until the end of the 2009–10 season. Peterborough chairman Darragh MacAnthony described the transfer as "one of the worst moments in his time at London Road". Boyd made his debut for Forest in a 1–0 victory over Swansea City on 6 March 2010, playing the full match. He struggled for first-team appearances during his loan spell, and although it had been expected that the move would be made permanent in the summer, new Peterborough manager Gary Johnson stated "there's every chance" Boyd could return to his parent club. Boyd was named in Forest's starting eleven for the first time in almost a month on the last day of the club's regular season, playing in a 2–2 draw away to Scunthorpe United and scoring Forest's second goal. That proved to be Boyd's last appearance of the season for Forest, as he did not play in the club's unsuccessful play-off campaign. He made six appearances during his time at the club, scoring one goal. In 2020, Boyd stated that he had been signed by Forest's director of football, David Pleat, and was not wanted by manager Billy Davies.
Boyd returned to his parent club ahead of the 2010–11 season, with Peterborough competing in League One following the club's relegation from the Championship the previous season. Boyd agreed a new three-year contract with Peterborough on 10 July 2010. He scored in Peterborough's first match of the 2010–11 season, a 3–0 win against Bristol Rovers on 7 August 2010. He scored five goals in five matches across February and March 2011, scoring once against Colchester United, followed by braces against Exeter City and Carlisle United. Boyd missed the chance to complete his hat-trick in the latter fixture when he missed a 90th-minute penalty. Boyd played in all three of Peterborough's play-off fixtures, which included the full match in the 2011 League One play-off final at Old Trafford, where Peterborough defeated Huddersfield Town 3–0 to secure promotion back to the Championship. During the season, Boyd scored 17 goals in 51 appearances.
Ahead of the 2011–12 season, Peterborough rejected two bids for Boyd from Burnley. He played in the club's first match of the season on 6 August 2011, a 2–1 victory over Crystal Palace on their return to the second tier of English football. He scored eight times during the season, making 48 appearances in all competitions, as Peterborough consolidated their position in the Championship. At the end of that season, Boyd declined the offer of a contract extension, with one year remaining on his existing deal. Consequently, he was placed on the transfer list in line with the club's updated transfer policy. Boyd remained transfer-listed for the remainder of his time at Peterborough. Despite this, he continued to feature regularly, opening the 2012–13 season by scoring twice in his first three appearances. In October 2012, Boyd scored his fourth and fifth goals of the season in a 3–1 home win over Huddersfield Town on 23 October 2012. His second goal during the match was a dipping volley from just inside the Huddersfield half, described as "world-class".
In January 2013, Peterborough rejected a transfer bid from Nottingham Forest for Boyd, which chairman Darragh MacAnthony described as "derisory". Eight clubs expressed interest in Boyd during the transfer window. Peterborough accepted an offer from fellow Championship club Crystal Palace on 29 January 2013, followed by improved bids from several Championship clubs, including Nottingham Forest, who met Peterborough's £500,000 valuation. Boyd agreed terms with Forest on 31 January 2013, only for the club to withdraw from the deal two hours before the transfer deadline, citing a failed medical due to an "inconclusive eye test". Peterborough's Director of football Barry Fry criticised Nottingham Forest's owners for pulling out of the deal, and chairman MacAnthony commented: "He's played 300 matches and scored from the halfway line the other month, but Forest say he has an eyesight problem. Alex McLeish wanted to sign him. It's the most ridiculous thing that's happened to me." Speaking in 2020, Boyd stated that he had chosen Nottingham Forest over his childhood club Crystal Palace as he was looking to settle in the East Midlands following the birth of his child. He alleged that the failed medical at Forest was influenced by manager Billy Davies, who had not picked him during his 2010 loan, and who was due to return to the City Ground. Boyd said that he was made to take an eye test without his contact lenses.
Peterborough subsequently stated that, with Boyd's contract expiring in the summer, they would be prepared to offer him a new contract or let him leave on loan when the emergency loan window opened, with at least one club having indicated interest in signing him on a loan agreement.
