What is PTSnoop?
The PTSnoop program is used by the modem to interface with your computer.
The program is not actually "snooping", but is interfacing with your computer to allow the modem to function. It is looking for an available COM port for your modem to use.
PTSnoop is not a malicious program and is not gathering any data about you. You can remove the PTSnoop application, but every time you reboot your computer it will reinstall itself.