Dave Kitson fired the home side in front on 12 minutes, but Steve Fletcher levelled things up three minutes before the break.
Cambridge sealed the spoils with Luke Guttridge netting the winner seven minutes from time.
Lincoln moved into the play-off places with a hard-fought 1-0 win over Kidderminster at Sincil Bank
Shayne Bradley hit the all-important winning goal for the hosts after 15 minutes to lift them into seventh spot.
Torquay moved into ninth spot as David Woozley's last-minute winner gave them a 3-2 win at Shrewsbury.
The visitors raced into a two goal lead with Martin Gritton (20)and Alex Russell (57) finding the net, but the home side fought back to level with strikes from Peter Wilding (76) and Luke Rodgers from the penalty spot (83).
The game looked set to end all-square until Woozley popped up at the death to win the game for Torquay.
Bury dropped out of the play-off reckoning after being held to a 1-1 draw at home to Oxford.
Pawel Abbot gave The Shakers the lead after 23 minutes but Scott McNiven earned the visitors a point with a 35th minute equaliser.
Click on fixture for full match summary
Bury v Oxford
Cambridge v Bournemouth
Lincoln v Kidderminster
Shrewsbury v Torquay
Click here for updated league table
