According to the Merriam-Webster online dictionary, Judaism refers to both the religion and the people:
Judaism a religion developed among the ancient Hebrews and characterized by belief in one transcendent God who has revealed himself to Abraham, Moses, and the Hebrew prophets and by a religious life in accordance with Scriptures and rabbinic traditions
2 the cultural, social, and religious beliefs and practices of the Jews
3 conformity to Jewish rites, ceremonies, and practices
4 the whole body of Jews; the Jewish people