hkoduri:
My previous equation works on Excel 2007 and 2010, earlier versions might have issues. The data range / column may be causing challenges. Let's try something:
Assuming your values are in Col A, make the following named range called "Values":
=OFFSET(Sheet1!$A$1,0,0,COUNTA(Sheet1!$A:$A))
Then, copy the following equation into a cell and hit Cntrl-Shift-Enter:
=SQRT(SUM(((Values)*((Values)<60)-AVERAGEIF(Values,"<"&60)*((Values)<60))^2)/(COUNTIF(Values,"<"&60)-1))
In my tests, this compares well with the Excel function StdDev used on the appropriate sub-set of data.